Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $14.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by equities research analysts at Scotiabank from $17.00 to $14.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price would suggest a potential upside of 130.26% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. 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 report on Wednesday. TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $16.00 to $10.00 in a report on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a report on Wednesday. Finally, Mizuho dropped their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Stock Down 5.6 %

SAGE opened at $6.08 on Wednesday. The company has a market cap of $365.91 million, a P/E ratio of -0.72 and a beta of 0.91. The company has a 50 day moving average of $7.48 and a two-hundred day moving average of $9.97. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter last year, the company posted ($2.81) earnings per share. Sage Therapeutics’s revenue for the quarter was up 337.1% compared to the same quarter last year. Research analysts anticipate that Sage Therapeutics will post -6.43 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Several large investors have recently bought and sold shares of SAGE. Bellevue Group AG raised its position in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Sage Therapeutics during the second quarter worth about $7,281,000. Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after acquiring an additional 518,296 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Sage Therapeutics by 831.2% during the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.