Stifel Nicolaus Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $6.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by equities research analysts at Stifel Nicolaus from $10.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.85% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. HC Wainwright reissued a “neutral” rating and set a $14.00 price target on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Truist Financial cut their target price on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, TD Cowen dropped their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.53.

Sage Therapeutics Stock Down 1.4 %

Shares of Sage Therapeutics stock opened at $5.27 on Monday. The stock has a market cap of $322.38 million, a PE ratio of -0.96 and a beta of 0.87. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $28.26. The business has a fifty day simple moving average of $6.17 and a 200-day simple moving average of $8.30.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.81) EPS. Analysts expect that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAGE. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the 2nd quarter worth approximately $7,281,000. Renaissance Technologies LLC boosted its position in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after acquiring an additional 518,296 shares in the last quarter. State Street Corp raised its position in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Sage Therapeutics by 831.2% in the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after purchasing an additional 436,566 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after purchasing an additional 287,549 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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.