Sage Therapeutics (NASDAQ:SAGE) Earns “Market Perform” Rating from Raymond James

Raymond James reaffirmed their market perform rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Thursday, MarketBeat Ratings reports.

SAGE has been the topic of a number of other research reports. Bank of America cut their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an underperform rating on the stock in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a neutral rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Tuesday, August 6th. Mizuho cut their target price on shares of Sage Therapeutics from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Friday, July 19th. Finally, TD Cowen downgraded shares of Sage Therapeutics from a buy rating to a hold rating and cut their target price for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $13.76.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $6.59 on Thursday. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26. The firm’s 50 day moving average price is $7.68 and its 200 day moving average price is $10.85. The firm has a market cap of $396.60 million, a P/E ratio of -0.78 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The company had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm’s revenue for the quarter was up 249.8% compared to the same quarter last year. During the same quarter last year, the business earned ($2.68) EPS. As a group, equities analysts predict that Sage Therapeutics will post -6.47 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SAGE. Fisher Asset Management LLC increased its position in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Sage Therapeutics by 8.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after purchasing an additional 5,068 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Sage Therapeutics by 69.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after purchasing an additional 117,344 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

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.