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

Key Points

• Wall Street Zen has upgraded Sage Therapeutics to a "hold" rating, indicating a potential shift in investor sentiment towards the stock.
• Several firms revised their price targets for Sage Therapeutics, with Canaccord Genuity raising it to $8.50 and Scotiabank lowering it to $9.20.
• Sage Therapeutics reported a quarterly revenue increase of 266% year-over-year, reaching $31.66 million, surpassing estimates by $14.97 million.

Wall Street Zen upgraded shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) to a hold rating in a research report report published on Saturday.

Several other research firms have also issued reports on SAGE. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research report on Monday, June 16th. Robert W. Baird increased their price objective on shares of Sage Therapeutics from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, June 20th. Scotiabank lowered shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $12.00 to $9.20 in a report on Tuesday, July 8th. Truist Financial set a $9.00 price target on shares of Sage Therapeutics and gave the company a "hold" rating in a report on Tuesday, June 17th. Finally, Piper Sandler lowered shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $9.00 to $8.50 in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.02.

Sage Therapeutics Stock Performance

NASDAQ SAGE remained flat at $8.68 on Friday. The company has a market cap of $543.54 million, a P/E ratio of -1.78 and a beta of 0.26. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $11.44. The stock's fifty day moving average is $8.38 and its 200 day moving average is $7.68.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping analysts' consensus estimates of ($0.96) by $0.17. The company had revenue of $31.66 million for the quarter, compared to the consensus estimate of $16.69 million. Sage Therapeutics had a negative net margin of 427.78% and a negative return on equity of 67.10%. Sage Therapeutics's revenue was up 266.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.70) earnings per share. As a group, analysts anticipate that Sage Therapeutics will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AlphaQuest LLC bought a new stake in Sage Therapeutics in the 1st quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in shares of Sage Therapeutics in the first quarter worth approximately $37,000. GAMMA Investing LLC boosted its holdings in shares of Sage Therapeutics by 16,118.0% during the first quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 8,059 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics in the fourth quarter valued at approximately $49,000. Finally, FORA Capital LLC acquired a new stake in Sage Therapeutics in the first quarter valued at approximately $83,000. 99.22% of the stock is currently owned by institutional investors.

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.