Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

Sage Therapeutics (NASDAQ:SAGE) had its target price trimmed by Canaccord Genuity Group from $9.00 to $8.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a report on Thursday, November 21st. Stifel Nicolaus cut their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a report on Monday, December 16th. TD Cowen decreased their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.65.

Sage Therapeutics Price Performance

SAGE stock opened at $7.16 on Wednesday. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $27.39. The business has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $6.93. The company has a market capitalization of $437.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sell-side analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares in the last quarter. RTW Investments LP boosted its holdings in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Sage Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after purchasing an additional 43,617 shares in the last quarter. Geode Capital Management LLC increased its holdings in Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after purchasing an additional 3,757 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sage Therapeutics during the 3rd quarter valued at $473,000. 99.22% of the stock is currently 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.