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

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) had its price objective raised by Truist Financial from $8.00 to $9.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the biopharmaceutical company's stock. Truist Financial's price target would suggest a potential downside of 0.72% from the stock's current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a research note on Tuesday. Bank of America began coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price target for the company. HC Wainwright reiterated a "neutral" rating and issued a $12.00 price objective on shares of Sage Therapeutics in a research report on Tuesday. Wall Street Zen lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $8.97.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock traded down $0.01 during trading hours on Tuesday, reaching $9.07. The company's stock had a trading volume of 883,070 shares, compared to its average volume of 1,672,741. Sage Therapeutics has a one year low of $4.62 and a one year high of $13.47. The company's 50 day simple moving average is $7.02 and its 200 day simple moving average is $6.90. The stock has a market cap of $567.66 million, a P/E ratio of -1.38 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings data 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 68.18% and a negative net margin of 971.50%. The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the company earned ($1.80) EPS. Sage Therapeutics's revenue was up 78.0% compared to the same quarter last year. On average, sell-side analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SAGE. Millennium Management LLC increased its position in shares of Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after purchasing an additional 124,720 shares during the period. ProShare Advisors LLC boosted its stake in 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 buying an additional 4,350 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Sage Therapeutics by 108.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock worth $405,000 after acquiring an additional 38,876 shares during the period. BNP Paribas Financial Markets raised its position in Sage Therapeutics by 9.3% in the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock worth $421,000 after acquiring an additional 6,574 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock worth $2,509,000 after acquiring an additional 234,528 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.