Sage Therapeutics (NASDAQ:SAGE) Upgraded at StockNews.com

StockNews.com upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other analysts have also commented on the company. Mizuho dropped their price objective on Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a report on Friday, April 26th. Royal Bank of Canada decreased their target price on Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating on the stock in a research report on Friday, April 26th. Canaccord Genuity Group cut their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, April 26th. Scotiabank reduced their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a research report on Thursday, April 18th. Finally, TD Cowen dropped their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Performance

SAGE stock opened at $13.94 on Friday. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The firm’s fifty day moving average is $18.21 and its 200 day moving average is $20.57. The firm has a market cap of $838.91 million, a PE ratio of -1.66 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its 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). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. During the same period in the previous year, the company earned ($2.46) earnings per share. The company’s revenue was up 139.4% compared to the same quarter last year. Research analysts predict that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SAGE. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 66.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 4,617 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Sage Therapeutics by 69.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after buying an additional 117,344 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Sage Therapeutics by 1,058.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock valued at $2,935,000 after buying an additional 143,075 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Sage Therapeutics by 8.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after acquiring an additional 5,068 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares during the period. 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.