Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives Average Rating of “Hold” from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE) has earned a consensus rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $10.53.

Several research analysts have recently weighed in on SAGE shares. Truist Financial cut their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Piper Sandler cut their target price on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a research report on Thursday, November 21st. Scotiabank cut their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, Oppenheimer reduced their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th.

Sage Therapeutics Trading Up 0.1 %

Sage Therapeutics stock opened at $7.26 on Thursday. The business’s 50 day simple moving average is $6.25 and its 200 day simple moving average is $6.98. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.39. The company has a market cap of $444.12 million, a price-to-earnings ratio of -1.30 and a beta of 0.94.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares in the last quarter. RTW Investments LP lifted its stake in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Sage Therapeutics by 157.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company’s stock worth $918,000 after purchasing an additional 103,495 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Sage Therapeutics during the 2nd quarter valued at about $1,008,000. Finally, Algert Global LLC raised its holdings in shares of Sage Therapeutics by 120.6% during the 3rd quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,033,000 after buying an additional 78,190 shares in the last quarter. Institutional investors 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.