Sage Therapeutics (NASDAQ:SAGE) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) from a sell rating to a hold rating in a report issued on Friday morning.

Several other research firms have also issued reports on SAGE. Bank of America initiated coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price for the company. HC Wainwright reiterated a "neutral" rating and set a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Canaccord Genuity Group dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. Finally, Wedbush reissued a "neutral" rating and issued a $6.00 price objective on shares of Sage Therapeutics in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.87.

Sage Therapeutics Trading Down 0.3%

NASDAQ SAGE traded down $0.02 during trading hours on Friday, reaching $6.50. 612,245 shares of the company's stock were exchanged, compared to its average volume of 1,189,655. The firm has a fifty day moving average of $7.15 and a 200-day moving average of $6.77. Sage Therapeutics has a one year low of $4.62 and a one year high of $13.47. The stock has a market cap of $407.04 million, a PE ratio of -0.99 and a beta of 0.20.

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

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in shares of Sage Therapeutics during the 1st quarter valued at $32,000. Picton Mahoney Asset Management increased its holdings in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 3,581 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Sage Therapeutics during the first quarter worth about $37,000. KLP Kapitalforvaltning AS bought a new stake in Sage Therapeutics in the fourth quarter worth about $49,000. Finally, Ieq Capital LLC purchased a new position in Sage Therapeutics in the fourth quarter valued at about $57,000. 99.22% of the stock is owned by institutional investors.

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.