Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives Consensus Recommendation of “Hold” from Analysts

Sage Therapeutics, Inc. (NASDAQ:SAGE) has been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Fifteen investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $43.78.

SAGE has been the subject of a number of research analyst reports. HC Wainwright cut their target price on Sage Therapeutics from $50.00 to $27.00 in a research report on Tuesday, August 8th. Canaccord Genuity Group downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $64.00 to $21.00 in a research report on Tuesday, August 8th. Bank of America cut their target price on Sage Therapeutics from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, September 8th. Truist Financial cut their price objective on Sage Therapeutics from $40.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, August 8th. Finally, TD Cowen cut their price objective on Sage Therapeutics from $105.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th.

Institutional Trading of Sage Therapeutics

Large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its stake in shares of Sage Therapeutics by 63.6% in the first quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock worth $378,000 after acquiring an additional 4,432 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sage Therapeutics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock worth $11,672,000 after acquiring an additional 10,134 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics in the first quarter worth $34,000. Vanguard Group Inc. increased its stake in shares of Sage Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after acquiring an additional 46,762 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Sage Therapeutics by 4.1% in the first quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock worth $27,958,000 after acquiring an additional 33,218 shares during the last quarter. 89.68% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Price Performance

SAGE opened at $19.72 on Tuesday. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.80 and a beta of 1.12. Sage Therapeutics has a 1-year low of $16.51 and a 1-year high of $59.99. The business has a 50 day moving average price of $19.61 and a two-hundred day moving average price of $33.26.

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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.