Sage Therapeutics (NASDAQ:SAGE) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other equities analysts also recently commented on the stock. Needham & Company LLC restated a hold rating on shares of Sage Therapeutics in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Canaccord Genuity Group reduced their price target on Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a research report on Friday. Wedbush reaffirmed a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. Finally, TD Cowen reduced their target price on Sage Therapeutics from $30.00 to $16.00 and set a buy rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $37.72.

Sage Therapeutics Stock Up 3.6 %

Sage Therapeutics stock opened at $14.18 on Friday. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The stock has a market cap of $853.38 million, a P/E ratio of -1.69 and a beta of 0.86. The company’s 50-day moving average price is $18.38 and its two-hundred day moving average price is $20.61.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same quarter last year, the business posted ($2.46) EPS. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. Equities analysts anticipate that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the period. SG Americas Securities LLC boosted its stake in shares of Sage Therapeutics by 11.0% in the 3rd quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 1,847 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Sage Therapeutics by 65.2% during the third quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock worth $716,000 after buying an additional 13,720 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sage Therapeutics by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 1,375 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Sage Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 8,561 shares during the last quarter. 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.