Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its price target lowered by equities researchers at Wedbush from $9.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s price objective points to a potential upside of 19.23% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lowered shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $10.00 to $4.00 in a report on Friday, October 4th. The Goldman Sachs Group decreased their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Mizuho lowered their price target on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Tuesday. Finally, TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $14.24.

Sage Therapeutics Stock Performance

Shares of SAGE traded up $0.28 during mid-day trading on Wednesday, reaching $6.71. The company had a trading volume of 85,316 shares, compared to its average volume of 992,138. The company has a market capitalization of $403.82 million, a price-to-earnings ratio of -0.80 and a beta of 0.91. The firm has a 50-day moving average price of $7.90 and a 200 day moving average price of $11.05. 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 results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The firm had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.68) EPS. As a group, research analysts forecast that Sage Therapeutics will post -6.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. ProShare Advisors LLC increased its stake in shares of Sage Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 1,480 shares during the period. Quest Partners LLC raised its stake in Sage Therapeutics by 14.5% during the 2nd 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 during the period. Inspire Investing LLC lifted its holdings in Sage Therapeutics by 9.4% in the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 1,652 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Sage Therapeutics by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 1,693 shares in the last quarter. 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.