Sage Therapeutics (NASDAQ:SAGE) Given New $6.00 Price Target at Stifel Nicolaus

Sage Therapeutics (NASDAQ:SAGE) had its target price trimmed by Stifel Nicolaus from $10.00 to $6.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on SAGE. Robert W. Baird decreased their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. HC Wainwright reissued a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Oppenheimer cut their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Scotiabank reduced their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, TD Cowen lowered their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.53.

Sage Therapeutics Stock Down 0.7 %

Shares of NASDAQ:SAGE opened at $5.35 on Monday. The firm has a 50 day moving average of $6.20 and a 200 day moving average of $8.34. The company has a market capitalization of $326.97 million, a price-to-earnings ratio of -0.96 and a beta of 0.87. Sage Therapeutics has a 52 week low of $4.62 and a 52 week 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 analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company’s revenue was up 337.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.81) earnings per share. On average, sell-side analysts expect that Sage Therapeutics will post -6.53 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC grew its position in Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the last quarter. Quest Partners LLC boosted its position in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares during the last quarter. Creative Planning acquired a new stake in Sage Therapeutics in the 3rd quarter valued at about $88,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sage Therapeutics in the second quarter valued at approximately $153,000. 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.