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

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have received an average rating of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $8.88.

Several analysts have weighed in on the company. Stifel Nicolaus cut their price objective on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. TD Cowen dropped their price target on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Piper Sandler dropped their price target on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, February 12th.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $7.50 on Monday. The stock’s 50 day simple moving average is $6.95 and its two-hundred day simple moving average is $6.75. The stock has a market cap of $461.11 million, a price-to-earnings ratio of -1.14 and a beta of 0.94. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $22.34.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP raised its stake in Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares during the last quarter. Caligan Partners LP purchased a new stake in Sage Therapeutics during the 4th quarter valued at $16,575,000. State Street Corp raised its stake in Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the last quarter. Millennium Management LLC raised its stake in Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company’s stock valued at $8,817,000 after buying an additional 124,720 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Sage Therapeutics during the 4th quarter valued at $7,540,000. 99.22% of the stock is 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.