Sage Therapeutics (NASDAQ:SAGE) Stock Rating Upgraded by Royal Bank of Canada

Sage Therapeutics (NASDAQ:SAGE – Get Rating) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $60.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $40.00. Royal Bank of Canada’s target price points to a potential upside of 36.24% from the stock’s current price.

SAGE has been the topic of several other reports. Mizuho raised their target price on Sage Therapeutics from $37.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. HC Wainwright reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Sage Therapeutics in a research report on Thursday, March 9th. Citigroup lifted their price objective on Sage Therapeutics from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Sage Therapeutics in a report on Friday, February 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $51.14.

Sage Therapeutics Trading Up 1.6 %

Shares of NASDAQ:SAGE opened at $44.04 on Monday. The stock’s 50-day moving average price is $43.25 and its 200-day moving average price is $40.24. Sage Therapeutics has a 12-month low of $27.36 and a 12-month high of $49.56. The stock has a market capitalization of $2.63 billion, a P/E ratio of -4.90 and a beta of 1.15.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The biopharmaceutical company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.37) by ($0.10). Sage Therapeutics had a negative net margin of 6,930.97% and a negative return on equity of 37.03%. The company had revenue of $2.87 million for the quarter, compared to the consensus estimate of $1.94 million. During the same period last year, the business posted ($2.12) earnings per share. The firm’s quarterly revenue was up 74.7% compared to the same quarter last year. As a group, research analysts predict that Sage Therapeutics will post -8.4 EPS for the current year.

Insider Activity

In related news, Director Jeffrey M. Jonas sold 11,643 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $44.61, for a total value of $519,394.23. Following the completion of the transaction, the director now owns 121,981 shares of the company’s stock, valued at approximately $5,441,572.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its stake in Sage Therapeutics by 63.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock worth $378,000 after purchasing an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Sage Therapeutics by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock worth $11,672,000 after purchasing an additional 10,134 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth $34,000. Vanguard Group Inc. lifted its stake in Sage Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after purchasing an additional 46,762 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Sage Therapeutics by 4.1% in the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock worth $27,958,000 after purchasing an additional 33,218 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.

Sage Therapeutics Company Profile

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SAGE Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of novel medicines. It targets diseases and disorders of the brain with three key focus areas: depression, neurology, and neuropsychiatry. The company was founded by Steven Marc Paul and Douglas Covey on April 16, 2010, and is headquartered in Cambridge, MA.