Sage Therapeutics (NASDAQ:SAGE) Now Covered by Analysts 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 target price on the biopharmaceutical company’s stock.

SAGE has been the subject of a number of other research reports. 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 report on Wednesday, February 12th. TD Cowen reduced their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Canaccord Genuity Group reduced their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, February 12th. Finally, Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Stock Up 2.1 %

Shares of NASDAQ SAGE opened at $7.85 on Tuesday. The business’s 50 day moving average price is $7.11 and its two-hundred day moving average price is $6.72. The company has a market cap of $482.63 million, a PE ratio of -1.19 and a beta of 0.82. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $20.76.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Sage Therapeutics will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SAGE. Caligan Partners LP acquired a new position in shares of Sage Therapeutics during the fourth quarter worth $16,575,000. Boothbay Fund Management LLC acquired a new position in shares of Sage Therapeutics during the fourth quarter worth $7,540,000. State Street Corp increased its holdings in shares of Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after buying an additional 451,377 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock worth $6,004,000 after buying an additional 430,432 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock valued at $2,509,000 after purchasing an additional 234,528 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.