Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $6.00

Sage Therapeutics (NASDAQ:SAGE) had its target price dropped by analysts at Bank of America from $11.00 to $6.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America‘s price target would suggest a potential downside of 10.31% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Robert W. Baird cut their price target on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday. HC Wainwright restated a “neutral” rating and issued a $25.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Truist Financial cut their price target on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, Scotiabank lowered their price objective on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus price target of $13.76.

Sage Therapeutics Price Performance

SAGE stock traded up $0.26 during mid-day trading on Wednesday, hitting $6.69. 462,565 shares of the stock were exchanged, compared to its average volume of 994,072. The business has a fifty day moving average price of $7.90 and a 200 day moving average price of $11.05. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The stock has a market capitalization of $402.62 million, a price-to-earnings ratio of -0.80 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same period last year, the firm posted ($2.68) EPS. The company’s revenue was up 249.8% on a year-over-year basis. As a group, equities analysts forecast that Sage Therapeutics will post -6.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its position in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Sage Therapeutics in the first quarter worth about $127,000. Virtu Financial LLC purchased a new position in Sage Therapeutics in the first quarter worth about $187,000. China Universal Asset Management Co. Ltd. grew its position in Sage Therapeutics by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 4,617 shares in the last quarter. Finally, Quest Partners LLC grew its position in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.