Sage Therapeutics’ (SAGE) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report released on Wednesday morning, Benzinga reports. They currently have a $26.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $52.00.

Several other research firms also recently weighed in on SAGE. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $10.00 to $4.00 in a research report on Friday, October 4th. Wedbush dropped their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group dropped 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 report on Friday, July 26th. HC Wainwright dropped their target price on shares of Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Truist Financial dropped their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Stock Down 0.5 %

Shares of Sage Therapeutics stock opened at $6.05 on Wednesday. The firm’s 50 day moving average price is $7.44 and its 200-day moving average price is $9.95. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26. The company has a market cap of $370.10 million, a P/E ratio of -1.08 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data 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). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. During the same period in the previous year, the firm earned ($2.81) EPS. The firm’s quarterly revenue was up 337.1% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently added to or reduced their stakes in SAGE. Headlands Technologies LLC raised 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 worth $43,000 after acquiring an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares during the period. Creative Planning acquired a new position in Sage Therapeutics during the third quarter worth $88,000. Lazard Asset Management LLC acquired a new position in Sage Therapeutics during the first quarter worth $127,000. Finally, Quest Partners LLC raised 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 period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.