Sage Therapeutics (NASDAQ:SAGE) Cut to Sell at StockNews.com

Sage Therapeutics (NASDAQ:SAGE) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently commented on SAGE. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $14.00 in a report on Wednesday. Royal Bank of Canada upped their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Scotiabank reduced their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday. Morgan Stanley upped their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Price Performance

Shares of SAGE opened at $13.33 on Friday. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99. The stock has a market cap of $801.27 million, a PE ratio of -1.47 and a beta of 0.86. The firm has a fifty day moving average price of $19.64 and a 200 day moving average price of $20.86.

Sage Therapeutics (NASDAQ:SAGE) last announced 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 net margin of 626.32% and a negative return on equity of 54.41%. The firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same period in the previous year, the company earned ($2.47) earnings per share. Sage Therapeutics’s quarterly revenue was up 2621.5% compared to the same quarter last year. As a group, equities analysts expect that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Amalgamated Bank grew its position in shares of Sage Therapeutics by 3.5% in the fourth quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 235 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Sage Therapeutics by 9.0% in the second quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 502 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Sage Therapeutics by 1.0% in the second quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after purchasing an additional 600 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Sage Therapeutics by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 698 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing 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.