Robert W. Baird Raises Sage Therapeutics (NASDAQ:SAGE) Price Target to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its price target hoisted by Robert W. Baird from $7.00 to $9.00 in a research note published on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on SAGE. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Monday, June 16th. Wall Street Zen lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective on shares of Sage Therapeutics in a research note on Tuesday. Canaccord Genuity Group boosted their target price on shares of Sage Therapeutics from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Tuesday. Finally, Truist Financial set a $9.00 price target on shares of Sage Therapeutics and gave the stock a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.93.

Sage Therapeutics Stock Up 1.9%

Shares of SAGE stock opened at $9.30 on Friday. The company has a 50 day moving average price of $7.20 and a 200-day moving average price of $6.98. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $13.47. The firm has a market capitalization of $582.37 million, a PE ratio of -1.60 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The company had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the prior year, the business posted ($1.80) EPS. The company’s revenue for the quarter was up 78.0% compared to the same quarter last year. Analysts anticipate that Sage Therapeutics will post -3.52 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its position in shares of Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 2,268 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 2,446 shares in the last quarter. Picton Mahoney Asset Management raised its position in shares of Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 3,581 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Sage Therapeutics in the first quarter worth $32,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Sage Therapeutics by 31.2% in the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 4,350 shares in the last quarter. Hedge funds and other 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.