Sage Therapeutics (NASDAQ:SAGE) Given Market Perform Rating at Raymond James

Raymond James reiterated their market perform rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Thursday morning, Marketbeat.com reports.

Several other research firms also recently commented on SAGE. Robert W. Baird lowered their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a neutral rating on the stock in a research report on Wednesday. Mizuho lowered their price objective on Sage Therapeutics from $18.00 to $16.00 and set a neutral rating on the stock in a report on Friday, July 19th. Scotiabank cut their price objective on Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating on the stock in a research note on Thursday, July 25th. TD Cowen cut Sage Therapeutics from a buy rating to a hold rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Finally, Truist Financial dropped their price target 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. 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, the stock has a consensus rating of Hold and a consensus target price of $13.76.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $6.37 on Thursday. The firm has a market cap of $388.89 million, a price-to-earnings ratio of -0.86 and a beta of 0.91. The stock has a 50-day simple moving average of $7.74 and a 200-day simple moving average of $10.99. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (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 business had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same quarter last year, the firm earned ($2.68) earnings per share. Sage Therapeutics’s revenue was up 249.8% compared to the same quarter last year. As a group, equities research analysts predict that Sage Therapeutics will post -6.47 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SAGE. Headlands Technologies LLC raised its holdings in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $127,000. Quest Partners LLC increased its position in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Sage Therapeutics in the second quarter valued at $153,000. Finally, SG Americas Securities LLC bought a new position in Sage Therapeutics in the second quarter worth $177,000. 99.22% of the stock is owned by institutional investors and hedge funds.

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.