Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $6.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by research analysts at Bank of America from $11.00 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America‘s target price would suggest a potential downside of 10.31% from the stock’s current price.

Several other brokerages also recently issued reports on SAGE. TD Cowen downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Mizuho decreased their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Scotiabank decreased their target price on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.76.

Sage Therapeutics Price Performance

Shares of SAGE traded up $0.26 during mid-day trading on Wednesday, hitting $6.69. 462,565 shares of the company’s stock were exchanged, compared to its average volume of 994,072. The company has a 50-day simple moving average of $7.90 and a 200 day simple moving average of $11.05. The company has a market cap of $402.62 million, a PE ratio of -0.80 and a beta of 0.91. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the previous year, the business earned ($2.68) EPS. Sage Therapeutics’s revenue was up 249.8% on a year-over-year basis. On average, analysts anticipate that Sage Therapeutics will post -6.47 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in shares of Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics in the first quarter valued at $127,000. Quest Partners LLC grew its position in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Sage Therapeutics during the second quarter valued at $153,000. Finally, SG Americas Securities LLC bought a new stake in Sage Therapeutics during the second quarter valued at $177,000. 99.22% of the stock is owned by hedge funds and other 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.