Raymond James Reiterates “Market Perform” Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGEGet Free Report)‘s stock had its “market perform” rating reissued by analysts at Raymond James in a report issued on Thursday, MarketBeat.com reports.

SAGE has been the topic of several other research reports. Truist Financial cut their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. HC Wainwright reiterated a “neutral” rating and issued a $25.00 price objective on shares of Sage Therapeutics in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Tuesday. Finally, TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.76.

View Our Latest Stock Analysis on SAGE

Sage Therapeutics Stock Up 3.5 %

Sage Therapeutics stock opened at $6.59 on Thursday. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The stock has a market cap of $402.32 million, a P/E ratio of -0.89 and a beta of 0.91. The company’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $10.90.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the firm earned ($2.68) EPS. The business’s revenue for the quarter was up 249.8% compared to the same quarter last year. On average, equities research analysts expect that Sage Therapeutics will post -6.47 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. Bellevue Group AG lifted its position in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the period. Federated Hermes Inc. acquired a new position in shares of Sage Therapeutics in the second quarter valued at $7,281,000. Renaissance Technologies LLC lifted its position in Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after purchasing an additional 518,296 shares during the period. Cubist Systematic Strategies LLC lifted its position in Sage Therapeutics by 831.2% in the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after purchasing an additional 436,566 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

About Sage Therapeutics

(Get Free Report)

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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