Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $9.00 by Analysts at Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by investment analysts at Piper Sandler from $26.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective indicates a potential upside of 54.64% from the company’s previous close.

Several other brokerages also recently issued reports on SAGE. HC Wainwright restated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Stifel Nicolaus reduced their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, December 16th. TD Cowen dropped their target price on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Scotiabank decreased their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, 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. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Trading Up 7.2 %

Shares of SAGE traded up $0.39 during midday trading on Thursday, reaching $5.82. The stock had a trading volume of 103,154 shares, compared to its average volume of 1,001,295. The firm has a market cap of $356.03 million, a PE ratio of -1.04 and a beta of 0.87. The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $7.85. Sage Therapeutics has a one year low of $4.62 and a one year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period in the prior year, the business earned ($2.81) EPS. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, research analysts forecast that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SAGE. State Street Corp boosted its holdings in shares of Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after buying an additional 451,377 shares in the last quarter. RTW Investments LP boosted 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 acquiring an additional 111,123 shares in the last quarter. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the second quarter valued at $7,281,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Sage Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock valued at $3,265,000 after purchasing an additional 43,617 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after purchasing an additional 518,296 shares in the last quarter. Institutional investors and hedge funds 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.