Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $9.00 at Robert W. Baird

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by stock analysts at Robert W. Baird from $13.00 to $9.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price would suggest a potential upside of 39.97% from the stock’s current price.

Several other research analysts have also weighed in on the company. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. HC Wainwright reiterated a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Tuesday. Finally, Royal Bank of Canada lowered shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $10.00 to $4.00 in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $15.18.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $6.43 on Wednesday. The company has a market cap of $386.97 million, a P/E ratio of -0.77 and a beta of 0.91. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26. The firm’s 50 day simple moving average is $7.90 and its 200-day simple moving average is $11.05.

Sage Therapeutics (NASDAQ:SAGE) last posted 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 return on equity of 55.87% and a negative net margin of 458.30%. The firm had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter in the previous year, the firm posted ($2.68) earnings per share. The company’s revenue for the quarter was up 249.8% on a year-over-year basis. On average, analysts expect that Sage Therapeutics will post -6.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its holdings in Sage Therapeutics by 9.0% in the 1st 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 during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Sage Therapeutics by 9.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 1,480 shares during the last quarter. Quest Partners LLC raised its holdings in Sage Therapeutics by 14.5% in the 2nd 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 period. Inspire Investing LLC lifted its position in Sage Therapeutics by 9.4% during the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position 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 worth $723,000 after acquiring an additional 1,693 shares during the last quarter. 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.