Robert W. Baird Raises Sage Therapeutics (NASDAQ:SAGE) Price Target to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its price target raised by analysts at Robert W. Baird from $7.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price objective suggests a potential downside of 3.23% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Truist Financial set a $9.00 price target on shares of Sage Therapeutics and gave the company a “hold” rating in a report on Tuesday, June 17th. Piper Sandler downgraded shares of Sage Therapeutics from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $8.50 in a report on Tuesday, June 17th. Canaccord Genuity Group lifted their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the company a “hold” rating in a report on Tuesday, June 17th. HC Wainwright reissued a “neutral” rating and set a $12.00 price target on shares of Sage Therapeutics in a report on Tuesday, June 17th. Finally, Bank of America began coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price target for the company. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and a consensus price target of $8.93.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $9.30 on Friday. The company has a 50-day moving average of $7.20 and a 200-day moving average of $6.99. The company has a market capitalization of $582.37 million, a price-to-earnings ratio of -1.60 and a beta of 0.18. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period in the previous year, the business posted ($1.80) earnings per share. Sage Therapeutics’s revenue was up 78.0% on a year-over-year basis. Sell-side analysts forecast that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently modified their holdings of SAGE. Caligan Partners LP acquired a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $16,575,000. TIG Advisors LLC acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $21,722,000. Boothbay Fund Management LLC acquired a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $7,540,000. ADAR1 Capital Management LLC boosted its stake in Sage Therapeutics by 3,767.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 742,495 shares of the biopharmaceutical company’s stock worth $5,903,000 after acquiring an additional 723,295 shares during the last quarter. Finally, Nuveen LLC bought a new position in Sage Therapeutics during the 1st quarter worth approximately $4,757,000. Institutional investors and hedge funds 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.