Wall Street Zen Upgrades Sage Therapeutics (NASDAQ:SAGE) to Hold

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.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "hold" rating in a research note issued on Saturday.

Several other research firms have also issued reports on SAGE. Canaccord Genuity Group raised their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a research report on Tuesday, June 17th. HC Wainwright reissued a "neutral" rating and set a $12.00 target price on shares of Sage Therapeutics in a research report on Tuesday, June 17th. Scotiabank lowered 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 research note on Tuesday, July 8th. Truist Financial set a $9.00 price target on Sage Therapeutics and gave the company a "hold" rating in a report on Tuesday, June 17th. Finally, Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock 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 assigned a hold rating to the company. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of "Hold" and an average target price of $8.02.

Sage Therapeutics Stock Down 0.2%

Shares of NASDAQ SAGE opened at $8.69 on Friday. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $11.44. The company has a market cap of $543.92 million, a P/E ratio of -1.78 and a beta of 0.26. The business's 50 day moving average is $8.33 and its two-hundred day moving average is $7.66.

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

Institutional Trading of Sage Therapeutics

Several hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics during the 4th quarter valued at $49,000. Geode Capital Management LLC grew its holdings in shares of Sage Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock worth $6,827,000 after purchasing an additional 14,049 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Sage Therapeutics in the fourth quarter valued at $759,000. Wells Fargo & Company MN raised its holdings in shares of Sage Therapeutics by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 7,087 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after buying an additional 430,432 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company's stock.

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.

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