Sage Therapeutics (NASDAQ:SAGE) Earns Neutral Rating from Piper Sandler

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Piper Sandler in a report released on Tuesday,Benzinga reports. They presently have a $8.50 target price on the biopharmaceutical company's stock, down from their previous target price of $9.00. Piper Sandler's price target would suggest a potential downside of 6.54% from the company's previous close.

Several other research analysts also recently commented on SAGE. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a report on Monday. Canaccord Genuity Group upped their target price on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a report on Tuesday. Truist Financial raised their price target on shares of Sage Therapeutics from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Tuesday. Bank of America started coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price objective on the stock. Finally, HC Wainwright restated a "neutral" rating and issued a $12.00 target price on shares of Sage Therapeutics in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics presently has an average rating of "Hold" and an average target price of $8.93.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE traded up $0.03 during midday trading on Tuesday, hitting $9.10. 1,110,994 shares of the stock were exchanged, compared to its average volume of 1,262,554. The business's 50-day moving average price is $7.02 and its 200 day moving average price is $6.90. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $13.47. The stock has a market capitalization of $569.54 million, a price-to-earnings ratio of -1.38 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The firm's quarterly revenue was up 78.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.80) earnings per share. As a group, sell-side analysts expect that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its position in shares of Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 2,268 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after purchasing an additional 2,446 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 3,581 shares in the last quarter. AlphaQuest LLC purchased a new stake in Sage Therapeutics in the 1st quarter valued at $32,000. Finally, ProShare Advisors LLC lifted its position in shares of Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 4,350 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company's stock.

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.

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