Sage Therapeutics (NASDAQ:SAGE) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note released on Tuesday morning. The brokerage issued an underperform rating and a $5.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. TD Cowen cut their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Scotiabank reduced their price objective on Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 12th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Wedbush reissued a “neutral” rating and issued a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $7.85 on Tuesday. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $20.76. The business has a 50-day moving average of $7.11 and a two-hundred day moving average of $6.72. The stock has a market capitalization of $482.63 million, a P/E ratio of -1.19 and a beta of 0.82.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. As a group, research analysts expect that Sage Therapeutics will post -3.52 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management raised its stake in shares of Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,581 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $49,000. Ieq Capital LLC acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $57,000. US Bancorp DE increased its position in shares of Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 2,268 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 2,446 shares during the last quarter. 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.