Sage Therapeutics (NASDAQ:SAGE) Price Target Raised to $9.00

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) had its price target lifted by research analysts at Robert W. Baird from $7.00 to $9.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the biopharmaceutical company's stock. Robert W. Baird's price target points to a potential downside of 3.23% from the stock's current price.

SAGE has been the subject of several other reports. Wall Street Zen cut Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Truist Financial set a $9.00 target price on Sage Therapeutics and gave the stock a "hold" rating in a research report on Tuesday, June 17th. HC Wainwright reissued a "neutral" rating and set a $12.00 price objective on shares of Sage Therapeutics in a report on Tuesday, June 17th. Canaccord Genuity Group raised their target price on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a research note on Tuesday, June 17th. Finally, Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $9.00 to $8.50 in a research note on Tuesday, June 17th. 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's stock. According to MarketBeat, Sage Therapeutics currently has an average rating of "Hold" and an average price target of $8.93.

Sage Therapeutics Stock Performance

NASDAQ:SAGE remained flat at $9.30 during mid-day trading on Friday. The company had a trading volume of 1,788,577 shares, compared to its average volume of 1,274,989. The company has a fifty day moving average of $7.24 and a 200 day moving average of $7.02. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $13.47. The company has a market cap of $582.37 million, a PE ratio of -1.60 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly 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). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The company had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the business earned ($1.80) EPS. The company's revenue for the quarter was up 78.0% on a year-over-year basis. Research analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently modified their holdings of SAGE. Empowered Funds LLC bought a new position in shares of Sage Therapeutics during the 4th quarter valued at about $91,000. Ieq Capital LLC bought a new position in shares of Sage Therapeutics during the 4th quarter valued at about $57,000. US Bancorp DE lifted its holdings in shares of Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 2,268 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock valued at $2,510,000 after purchasing an additional 10,116 shares in the last quarter. Finally, Amundi bought a new position in shares of Sage Therapeutics during the 4th quarter valued at about $166,000. Institutional investors own 99.22% of the company's stock.

Sage Therapeutics Company Profile

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.