Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $14.00 at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Scotiabank from $17.00 to $14.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on SAGE. Robert W. Baird cut their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $10.00 to $4.00 in a research note on Friday, October 4th. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $12.89.

Sage Therapeutics Stock Down 24.1 %

NASDAQ:SAGE opened at $6.44 on Wednesday. The company has a market capitalization of $387.57 million, a PE ratio of -0.76 and a beta of 0.91. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26. The stock has a fifty day simple moving average of $7.52 and a 200-day simple moving average of $10.00.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. 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 previous year, the firm posted ($2.81) EPS. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, equities analysts anticipate that Sage Therapeutics will post -6.43 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC boosted its holdings in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 2,782 shares during the period. Lazard Asset Management LLC purchased a new position in Sage Therapeutics in the 1st quarter worth approximately $127,000. Virtu Financial LLC purchased a new position in Sage Therapeutics in the 1st quarter worth approximately $187,000. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares during the period. Finally, Quest Partners LLC boosted its holdings in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares during the period. 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.