Sage Therapeutics (NASDAQ:SAGE) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from an underperform rating to a sector perform rating in a research report released on Thursday morning, Marketbeat Ratings reports. The firm currently has $4.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on SAGE. Oppenheimer reduced their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Bank of America dropped their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Wedbush lowered their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Trading Up 0.8 %

SAGE opened at $4.89 on Thursday. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $28.26. The stock’s fifty day simple moving average is $6.75 and its 200 day simple moving average is $9.10. The stock has a market cap of $299.14 million, a PE ratio of -0.87 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same period in the prior year, the company earned ($2.81) earnings per share. The business’s quarterly revenue was up 337.1% compared to the same quarter last year. Equities analysts forecast that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAGE. ProShare Advisors LLC boosted its position in shares of Sage Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 1,130 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Sage Therapeutics by 9.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 1,480 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after buying an additional 432,013 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics during the first quarter valued at approximately $127,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Company Profile

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.