Piper Sandler Reaffirms “Overweight” Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $26.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $52.00. Piper Sandler’s price objective indicates a potential upside of 327.63% from the stock’s current price.

SAGE has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Scotiabank reduced their price target on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. Truist Financial reduced their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday. Wedbush cut their target price on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $6.08 on Wednesday. The business has a 50 day moving average of $7.48 and a 200 day moving average of $9.97. The company has a market capitalization of $365.91 million, a price-to-earnings ratio of -0.72 and a beta of 0.91. Sage Therapeutics has a 1-year low of $5.84 and a 1-year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data 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 company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the previous year, the firm posted ($2.81) EPS. The business’s revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sage Therapeutics will post -6.43 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. Headlands Technologies LLC lifted its stake in shares of Sage Therapeutics by 245.3% during the 2nd 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 during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sage Therapeutics in the 1st quarter valued at about $127,000. Virtu Financial LLC acquired a new position in shares of Sage Therapeutics in the 1st quarter valued at about $187,000. China Universal Asset Management Co. Ltd. raised its holdings in Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares during 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.