SAGE Therapeutics (NASDAQ:SAGE) Stock Rating Upgraded by Leerink Swann

SAGE Therapeutics (NASDAQ:SAGE) was upgraded by analysts at Leerink Swann from an “underperform” rating to a “market perform” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $63.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price objective suggests a potential downside of 2.26% from the company’s current price.

Several other brokerages also recently commented on SAGE. Wedbush dropped their target price on SAGE Therapeutics from $203.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday. SunTrust Banks cut SAGE Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $70.00 in a report on Thursday. Goldman Sachs Group decreased their price target on SAGE Therapeutics from $227.00 to $263.00 in a report on Thursday. Royal Bank of Canada downgraded shares of SAGE Therapeutics from an “outperform” rating to a “sector perform” rating and set a $73.00 price objective for the company. in a research report on Thursday. Finally, Guggenheim dropped their price objective on shares of SAGE Therapeutics from $200.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $128.81.

NASDAQ:SAGE opened at $64.46 on Friday. The business’s 50-day moving average is $142.30 and its two-hundred day moving average is $160.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 12.67 and a quick ratio of 12.67. SAGE Therapeutics has a 12 month low of $56.50 and a 12 month high of $193.56.

SAGE Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($3.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.41) by ($0.07). SAGE Therapeutics had a negative return on equity of 60.00% and a negative net margin of 12,931.34%. The company had revenue of $3.57 million for the quarter, compared to analyst estimates of $2.52 million. During the same quarter in the prior year, the firm earned ($2.63) EPS. The company’s revenue for the quarter was up 35600.0% compared to the same quarter last year. As a group, equities research analysts predict that SAGE Therapeutics will post -13.77 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of SAGE Therapeutics by 197.2% in the 2nd quarter. Invesco Ltd. now owns 2,021,964 shares of the biopharmaceutical company’s stock valued at $370,201,000 after purchasing an additional 1,341,720 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of SAGE Therapeutics during the second quarter worth approximately $113,776,000. Jennison Associates LLC grew its position in shares of SAGE Therapeutics by 25.4% during the second quarter. Jennison Associates LLC now owns 2,953,913 shares of the biopharmaceutical company’s stock worth $540,832,000 after buying an additional 598,299 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of SAGE Therapeutics by 12.3% in the second quarter. Janus Henderson Group PLC now owns 1,873,408 shares of the biopharmaceutical company’s stock worth $343,002,000 after buying an additional 204,779 shares during the last quarter. Finally, State Street Corp increased its stake in shares of SAGE Therapeutics by 8.8% in the third quarter. State Street Corp now owns 1,039,599 shares of the biopharmaceutical company’s stock worth $145,845,000 after buying an additional 84,138 shares during the last quarter.

About SAGE Therapeutics

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

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