Sage Therapeutics (NASDAQ:SAGE – Get Free Report) had its price objective lowered by research analysts at Bank of America from $11.00 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America‘s target price would suggest a potential downside of 10.31% from the stock’s current price.
Several other brokerages also recently issued reports on SAGE. TD Cowen downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Mizuho decreased their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Scotiabank decreased their target price on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.76.
Check Out Our Latest Stock Report on Sage Therapeutics
Sage Therapeutics Price Performance
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced 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 net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the previous year, the business earned ($2.68) EPS. Sage Therapeutics’s revenue was up 249.8% on a year-over-year basis. On average, analysts anticipate that Sage Therapeutics will post -6.47 earnings per share for the current year.
Institutional Investors Weigh In On Sage Therapeutics
Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in shares of Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics in the first quarter valued at $127,000. Quest Partners LLC grew its position in shares of Sage Therapeutics by 14.5% in the second 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 in the last quarter. Point72 DIFC Ltd bought a new stake in Sage Therapeutics during the second quarter valued at $153,000. Finally, SG Americas Securities LLC bought a new stake in Sage Therapeutics during the second quarter valued at $177,000. 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.
See Also
- Five stocks we like better than Sage Therapeutics
- 3 Stocks to Consider Buying in October
- 3 Momentum Trades for October With Ample Upside Ahead
- What Are Dividend Champions? How to Invest in the Champions
- Roblox Dips on Short Report—Here’s Why It Could Bounce Back Fast
- What does consumer price index measure?
- 2 Reasons to Jump on Apple Stock Now and 1 Reason to Think Twice
Receive News & Ratings for Sage Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sage Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.