StockNews.com Upgrades Sage Therapeutics (NASDAQ:SAGE) to Hold

Sage Therapeutics (NASDAQ:SAGE) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SAGE has been the subject of several other research reports. Morgan Stanley increased their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. TD Cowen reduced their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. HC Wainwright reduced their target price on shares of Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Canaccord Genuity Group reduced their target price on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.72.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $13.69 on Friday. The company has a market cap of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86. The stock’s 50-day moving average is $18.56 and its 200-day moving average is $20.65. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CWM LLC increased 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 valued at $25,000 after purchasing an additional 883 shares in the last quarter. SG Americas Securities LLC grew its holdings in Sage Therapeutics by 11.0% during the 3rd 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. grew its holdings in Sage Therapeutics by 65.2% during the 3rd 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 grew its holdings in Sage Therapeutics by 17.4% during the 3rd 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. grew its holdings in Sage Therapeutics by 27.6% during the 3rd 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. 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.