Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Price Target at $8.88

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have been given a consensus rating of “Hold” by the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.88.

Several equities analysts have commented on the stock. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Scotiabank reduced their target price on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, February 12th. Canaccord Genuity Group reduced their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Sage Therapeutics in a research report on Wednesday, February 12th.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $7.50 on Monday. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $22.34. The company has a market capitalization of $461.11 million, a P/E ratio of -1.14 and a beta of 0.82. The company has a 50-day simple moving average of $6.95 and a 200 day simple moving average of $6.72.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. As a group, equities analysts forecast that Sage Therapeutics will post -3.52 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in Sage Therapeutics by 126.0% in the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 3,581 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at $49,000. Ieq Capital LLC bought a new position in shares of Sage Therapeutics in the 4th quarter valued at $57,000. Creative Planning acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth $88,000. Finally, US Bancorp DE lifted its position in shares of Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 2,268 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

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.