Sage Therapeutics (NASDAQ:SAGE) Given a $9.00 Price Target by Truist Financial Analysts

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) has been assigned a $9.00 target price by research analysts at Truist Financial in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a "hold" rating on the biopharmaceutical company's stock. Truist Financial's target price points to a potential downside of 3.23% from the company's current price.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a report on Monday. Canaccord Genuity Group increased their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a report on Tuesday. HC Wainwright restated a "neutral" rating and issued a $12.00 price objective on shares of Sage Therapeutics in a research report on Tuesday. Finally, Bank of America began coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Sage Therapeutics has a consensus rating of "Hold" and a consensus price target of $8.93.

Sage Therapeutics Stock Up 1.9%

SAGE traded up $0.17 on Tuesday, hitting $9.30. The company's stock had a trading volume of 2,600,424 shares, compared to its average volume of 1,284,783. The company's 50 day simple moving average is $7.20 and its 200-day simple moving average is $6.98. The firm has a market cap of $582.37 million, a P/E ratio of -1.60 and a beta of 0.18. 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 earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.02). The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The company's revenue was up 78.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.80) EPS. Equities analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SAGE. Vanguard Group Inc. lifted its holdings in shares of Sage Therapeutics by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,077,288 shares of the biopharmaceutical company's stock worth $40,364,000 after acquiring an additional 239,119 shares during the last quarter. Caligan Partners LP bought a new position in Sage Therapeutics in the fourth quarter valued at $16,575,000. TIG Advisors LLC purchased a new stake in Sage Therapeutics during the first quarter valued at about $21,722,000. Millennium Management LLC lifted its stake in Sage Therapeutics by 8.3% during the fourth quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock worth $8,817,000 after purchasing an additional 124,720 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Sage Therapeutics during the fourth quarter worth about $7,540,000. Hedge funds and other institutional investors 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.