Sage Therapeutics (NASDAQ:SAGE) Rating Lowered to Sell at StockNews.com

Sage Therapeutics (NASDAQ:SAGE) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

SAGE has been the subject of several other research reports. Oppenheimer dropped their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday. Bank of America dropped their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” 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 dropped their price target for the company from $10.00 to $4.00 in a research note on Friday, October 4th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, Wedbush dropped their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $6.05 on Thursday. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26. The firm has a market capitalization of $370.10 million, a P/E ratio of -1.08 and a beta of 0.91. The company’s 50 day moving average price is $7.44 and its two-hundred day moving average price is $9.95.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.81) EPS. On average, analysts expect that Sage Therapeutics will post -6.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the last quarter. Bellevue Group AG raised its position in Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD raised its position in Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 333,805 shares during the period. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the second quarter worth about $7,281,000. Finally, Renaissance Technologies LLC raised its position in Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after acquiring an additional 518,296 shares during the period. 99.22% of the stock is currently 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.