Leerink Swann Upgrades SAGE Therapeutics (NASDAQ:SAGE) to Market Perform

SAGE Therapeutics (NASDAQ:SAGE) was upgraded by research analysts at Leerink Swann from an “underperform” rating to a “market perform” rating in a note issued to investors on Friday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group decreased their price target on shares of SAGE Therapeutics from $227.00 to $263.00 in a report on Thursday. Royal Bank of Canada downgraded SAGE Therapeutics from an “outperform” rating to a “sector perform” rating in a report on Thursday. Morgan Stanley restated a “buy” rating and set a $217.00 price objective on shares of SAGE Therapeutics in a report on Sunday, November 24th. SunTrust Banks lowered SAGE Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wedbush reduced their target price on SAGE Therapeutics from $203.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $170.67.

SAGE opened at $149.21 on Friday. The company’s 50 day simple moving average is $143.82 and its 200 day simple moving average is $161.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 12.67 and a current ratio of 12.67. SAGE Therapeutics has a 1 year low of $56.50 and a 1 year high of $193.56. The stock has a market capitalization of $8.02 billion, a PE ratio of -18.47 and a beta of 2.52.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($3.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.41) by ($0.07). SAGE Therapeutics had a negative net margin of 12,931.34% and a negative return on equity of 60.00%. The company had revenue of $3.57 million during the quarter, compared to analysts’ expectations of $2.52 million. During the same quarter in the previous year, the firm posted ($2.63) earnings per share. SAGE Therapeutics’s revenue for the quarter was up 35600.0% compared to the same quarter last year. As a group, sell-side analysts expect that SAGE Therapeutics will post -13.77 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of SAGE. US Bancorp DE boosted its position in SAGE Therapeutics by 6.3% during the 2nd quarter. US Bancorp DE now owns 1,122 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 66 shares during the period. Commonwealth Equity Services LLC raised its position in SAGE Therapeutics by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 1,772 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 77 shares during the period. Meadow Creek Investment Management LLC raised its position in SAGE Therapeutics by 4.6% in the second quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the biopharmaceutical company’s stock valued at $331,000 after purchasing an additional 80 shares during the period. Prudential Financial Inc. raised its position in SAGE Therapeutics by 4.2% in the second quarter. Prudential Financial Inc. now owns 2,490 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SAGE Therapeutics by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,374 shares of the biopharmaceutical company’s stock worth $473,000 after purchasing an additional 103 shares in the last quarter.

About SAGE Therapeutics

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

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Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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