Sage Therapeutics (NASDAQ:SAGE) Given New $19.00 Price Target at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by Scotiabank from $34.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price target would indicate a potential upside of 42.54% from the company’s current price.

SAGE has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. TD Cowen decreased their price target on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Oppenheimer decreased their price objective on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics currently has an average rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Stock Up 2.3 %

NASDAQ:SAGE opened at $13.33 on Thursday. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99. The firm has a market capitalization of $801.23 million, a price-to-earnings ratio of -1.47 and a beta of 0.86. The stock has a fifty day simple moving average of $19.85 and a 200 day simple moving average of $20.91.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. During the same quarter last year, the company posted ($2.47) EPS. Sage Therapeutics’s revenue for the quarter was up 2621.5% on a year-over-year basis. Equities analysts predict that Sage Therapeutics will post -6.06 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 235 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Sage Therapeutics by 9.0% during the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 502 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Sage Therapeutics by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after buying an additional 600 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 698 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the last quarter. 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.