Sage Therapeutics (NASDAQ:SAGE) Downgraded to “Hold” Rating by Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) was downgraded by investment analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $8.50 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $9.00. Piper Sandler’s price target indicates a potential downside of 6.80% from the company’s current price.

A number of other research analysts have also recently weighed in on SAGE. Bank of America initiated coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price target for the company. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Sage Therapeutics in a research report on Tuesday. Wall Street Zen cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Monday. Finally, Canaccord Genuity Group increased their price objective on Sage Therapeutics from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $9.12 on Tuesday. The stock has a fifty day moving average price of $7.07 and a two-hundred day moving average price of $6.91. The stock has a market capitalization of $571.09 million, a price-to-earnings ratio of -1.57 and a beta of 0.18. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the prior year, the business earned ($1.80) EPS. The company’s quarterly revenue was up 78.0% compared to the same quarter last year. On average, analysts predict that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its holdings in Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares during the period. Teacher Retirement System of Texas grew its holdings in Sage Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 2,446 shares during the period. Picton Mahoney Asset Management grew its holdings in Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 3,581 shares during the period. AlphaQuest LLC purchased a new stake in Sage Therapeutics in the 1st quarter valued at about $32,000. Finally, ProShare Advisors LLC grew its holdings in Sage Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 4,350 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.