Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $15.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Royal Bank of Canada from $26.00 to $15.00 in a research note published on Friday, Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on SAGE. HC Wainwright reaffirmed a neutral rating and issued a $28.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. JPMorgan Chase & Co. raised their target price on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a report on Tuesday, March 26th. StockNews.com downgraded Sage Therapeutics from a hold rating to a sell rating in a research report on Friday, April 19th. Scotiabank reduced their price objective on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a research report on Thursday, April 18th. Finally, Wedbush reaffirmed a neutral rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $37.72.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $14.18 on Friday. The business’s 50-day simple moving average is $18.38 and its 200-day simple moving average is $20.61. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The firm has a market cap of $853.38 million, a price-to-earnings ratio of -1.69 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same period in the prior year, the company posted ($2.46) earnings per share. Sage Therapeutics’s quarterly revenue was up 139.4% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics will post -6.49 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its stake in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 883 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sage Therapeutics by 17.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 1,375 shares in the last quarter. Values First Advisors Inc. bought a new position in Sage Therapeutics in the 3rd quarter valued at $219,000. Finally, Quest Partners LLC acquired a new stake in Sage Therapeutics in the fourth quarter worth about $261,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.