Sage Therapeutics (NASDAQ:SAGE) Cut to “Underperform” at Bank of America

Bank of America cut shares of Sage Therapeutics (NASDAQ:SAGE) from a neutral rating to an underperform rating in a report published on Wednesday, MarketBeat.com reports. Bank of America currently has $14.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $24.00.

A number of other research analysts have also weighed in on the stock. HC Wainwright lifted their price objective on shares of Sage Therapeutics from $25.00 to $28.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. StockNews.com upgraded shares of Sage Therapeutics from a sell rating to a hold rating in a research note on Thursday, February 15th. Finally, Morgan Stanley boosted their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $39.28.

Sage Therapeutics Stock Up 2.3 %

Shares of SAGE stock opened at $13.33 on Wednesday. The company has a 50 day moving average of $19.85 and a 200-day moving average of $20.91. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99. The firm has a market cap of $801.23 million, a P/E ratio of -1.47 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. During the same period in the previous year, the business earned ($2.47) EPS. Sage Therapeutics’s revenue was up 2621.5% compared to the same quarter last year. As a group, equities analysts expect that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank lifted its holdings in shares of Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 235 shares during the last quarter. Captrust Financial Advisors lifted its stake in Sage Therapeutics by 9.0% in the second quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 502 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Sage Therapeutics by 1.0% in the second quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock worth $2,873,000 after purchasing an additional 600 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Sage Therapeutics by 4.8% during the third quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 698 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the period. 99.22% of the stock is owned by institutional investors.

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.