Wedbush Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its target price lowered by equities research analysts at Wedbush from $9.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s target price points to a potential upside of 25.59% from the stock’s current price.

A number of other research firms have also issued reports on SAGE. Truist Financial dropped their target price on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Robert W. Baird cut their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen downgraded shares of 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 report on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Tuesday. Finally, The Goldman Sachs Group lowered their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.76.

Sage Therapeutics Price Performance

SAGE stock opened at $6.37 on Wednesday. The company has a market cap of $388.89 million, a price-to-earnings ratio of -0.76 and a beta of 0.91. The company has a fifty day moving average price of $7.74 and a 200 day moving average price of $10.99. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its position in Sage Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 1,130 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Sage Therapeutics by 9.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 1,480 shares during the last quarter. Quest Partners LLC lifted its holdings in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Sage Therapeutics by 9.4% during the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sage Therapeutics by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock worth $723,000 after buying an additional 1,693 shares in 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.