Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives Average Rating of "Reduce" from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) has been assigned an average recommendation of "Reduce" from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.02.

SAGE has been the subject of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Robert W. Baird increased their target price on Sage Therapeutics from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, June 20th. Wall Street Zen raised Sage Therapeutics to a "hold" rating in a research report on Saturday. Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $9.00 to $8.50 in a research report on Tuesday, June 17th. Finally, Truist Financial set a $9.00 price target on Sage Therapeutics and gave the stock a "hold" rating in a research note on Tuesday, June 17th.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds have recently bought and sold shares of the business. Caligan Partners LP bought a new position in Sage Therapeutics during the fourth quarter valued at approximately $16,575,000. TIG Advisors LLC purchased a new stake in Sage Therapeutics during the 1st quarter valued at $21,722,000. Boothbay Fund Management LLC bought a new position in shares of Sage Therapeutics during the 4th quarter valued at $7,540,000. ADAR1 Capital Management LLC lifted its holdings in shares of Sage Therapeutics by 3,767.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 742,495 shares of the biopharmaceutical company's stock valued at $5,903,000 after buying an additional 723,295 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Sage Therapeutics in the 1st quarter worth $4,757,000. Hedge funds and other institutional investors own 99.22% of the company's stock.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock remained flat at $8.68 during midday trading on Thursday. The firm's 50 day moving average is $8.33 and its two-hundred day moving average is $7.67. Sage Therapeutics has a one year low of $4.62 and a one year high of $11.44. The stock has a market capitalization of $543.54 million, a P/E ratio of -1.78 and a beta of 0.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.17. Sage Therapeutics had a negative net margin of 427.78% and a negative return on equity of 67.10%. The business had revenue of $31.66 million during the quarter, compared to analyst estimates of $16.69 million. During the same period in the prior year, the business earned ($1.70) EPS. The company's revenue for the quarter was up 266.0% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics will post -3.52 earnings per share for the current year.

About Sage Therapeutics

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.