Sage Therapeutics (NASDAQ:SAGE) Upgraded at StockNews.com

StockNews.com upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other analysts also recently commented on SAGE. Truist Financial lowered their price objective on Sage Therapeutics from $22.00 to $18.00 and set a hold rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research report on Thursday. Morgan Stanley increased their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Wedbush reaffirmed a neutral rating and set a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Finally, Bank of America downgraded Sage Therapeutics from a neutral rating to an underperform rating and decreased their price target for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $37.72.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $13.69 on Friday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The business has a 50 day moving average price of $18.56 and a 200-day moving average price of $20.64.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The business’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same period last year, the company earned ($2.46) earnings per share. As a group, equities research analysts expect that Sage Therapeutics will post -6.49 EPS for the current year.

Institutional Trading of Sage Therapeutics

Large investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 883 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Sage Therapeutics by 11.0% in the third quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock worth $383,000 after acquiring an additional 1,847 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Sage Therapeutics by 65.2% in the third quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock worth $716,000 after acquiring an additional 13,720 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 1,375 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sage Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock worth $815,000 after acquiring an additional 8,561 shares during the period. 99.22% of the stock is owned by hedge funds and other 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.