Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $22.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by research analysts at Royal Bank of Canada from $25.00 to $22.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 1.80% from the stock’s previous close.

A number of other research analysts have also issued reports on SAGE. Truist Financial cut their price target on shares of Sage Therapeutics from $40.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, August 8th. Oppenheimer lowered their price target on Sage Therapeutics from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, August 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $21.00 price target (down previously from $64.00) on shares of Sage Therapeutics in a report on Tuesday, August 8th. Barclays cut their price target on Sage Therapeutics from $311.00 to $294.00 in a research report on Monday, August 7th. Finally, Stifel Nicolaus cut Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $60.00 to $22.00 in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.57.

Sage Therapeutics Stock Up 3.4 %

Shares of SAGE opened at $21.61 on Thursday. Sage Therapeutics has a twelve month low of $16.51 and a twelve month high of $59.99. The company has a 50 day moving average of $31.50 and a two-hundred day moving average of $41.92. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -2.18 and a beta of 1.14.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) EPS for the quarter, missing analysts’ consensus estimates of ($2.55) by ($0.13). Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 49.82%. The business had revenue of $2.47 million during the quarter, compared to analysts’ expectations of $2.94 million. During the same quarter last year, the business posted ($2.13) earnings per share. The company’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, sell-side analysts expect that Sage Therapeutics will post -8.97 EPS for the current year.

Insider Activity at Sage Therapeutics

In other Sage Therapeutics news, Director Elizabeth Barrett bought 2,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $18.64 per share, with a total value of $37,280.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $55,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in Sage Therapeutics by 8.1% during the first quarter. FMR LLC now owns 7,083,533 shares of the biopharmaceutical company’s stock worth $297,225,000 after buying an additional 532,042 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Sage Therapeutics by 3.6% during the 1st quarter. Wellington Management Group LLP now owns 5,714,423 shares of the biopharmaceutical company’s stock valued at $239,777,000 after acquiring an additional 198,287 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sage Therapeutics by 0.4% in the first quarter. BlackRock Inc. now owns 4,929,786 shares of the biopharmaceutical company’s stock valued at $206,854,000 after purchasing an additional 19,425 shares during the period. Vanguard Group Inc. grew its position in Sage Therapeutics by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,787,865 shares of the biopharmaceutical company’s stock worth $187,492,000 after acquiring an additional 45,026 shares during the period. Finally, Bellevue Group AG grew its holdings in shares of Sage Therapeutics by 0.8% during the 2nd quarter. Bellevue Group AG now owns 3,114,375 shares of the biopharmaceutical company’s stock worth $146,438,000 after purchasing an additional 24,375 shares during the period. 89.68% 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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.