Sage Therapeutics (NASDAQ:SAGE) Given New $9.00 Price Target at Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Piper Sandler from $26.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus dropped their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, December 16th. TD Cowen dropped their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Bank of America decreased their target price 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. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Finally, Scotiabank cut their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Up 6.4 %

Shares of SAGE opened at $5.78 on Thursday. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $28.26. The stock has a market capitalization of $353.58 million, a P/E ratio of -1.04 and a beta of 0.87. The company has a 50 day moving average of $5.73 and a 200-day moving average of $7.83.

Sage Therapeutics (NASDAQ:SAGE) last released 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). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period last year, the business posted ($2.81) EPS. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. On average, sell-side analysts anticipate that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently bought and sold shares of SAGE. Geode Capital Management LLC grew its position in shares of 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 in the last quarter. State Street Corp boosted its stake in shares of Sage Therapeutics by 18.2% in the third 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 during the period. RTW Investments LP grew its position in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares in the last quarter. Erste Asset Management GmbH bought a new position in Sage Therapeutics during the 3rd quarter worth $208,000. Finally, Martingale Asset Management L P raised its holdings in Sage Therapeutics by 55.1% in the 3rd quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 16,717 shares in the last quarter. 99.22% of the stock is 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.