Sage Therapeutics (NASDAQ:SAGE) Given New $9.00 Price Target at Robert W. Baird

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) had its price objective boosted by equities research analysts at Robert W. Baird from $7.00 to $9.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. Robert W. Baird's price target would suggest a potential downside of 1.59% from the stock's current price.

Several other research firms also recently commented on SAGE. Piper Sandler downgraded shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Tuesday. HC Wainwright reissued a "neutral" rating and set a $12.00 price objective on shares of Sage Therapeutics in a report on Tuesday. Bank of America assumed coverage on Sage Therapeutics in a report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price on the stock. Truist Financial set a $9.00 target price on Sage Therapeutics and gave the stock a "hold" rating in a research report on Tuesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Monday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.93.

Sage Therapeutics Trading Up 0.2%

NASDAQ:SAGE opened at $9.15 on Friday. The company has a market cap of $572.66 million, a PE ratio of -1.58 and a beta of 0.18. The company has a 50 day simple moving average of $7.16 and a two-hundred day simple moving average of $6.95. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $13.47.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The business had revenue of $14.06 million for the quarter, compared to analysts' expectations of $14.12 million. During the same quarter in the prior year, the business earned ($1.80) EPS. The company's revenue was up 78.0% compared to the same quarter last year. Research analysts forecast that Sage Therapeutics will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in Sage Therapeutics by 8.3% in the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after buying an additional 124,720 shares during the period. ProShare Advisors LLC grew its holdings in Sage Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock worth $99,000 after acquiring an additional 4,350 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock valued at $405,000 after buying an additional 38,876 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Sage Therapeutics by 9.3% during the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock worth $421,000 after purchasing an additional 6,574 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Sage Therapeutics by 103.1% in the 4th quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after buying an additional 234,528 shares during 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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