Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $9.00 by Analysts at Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by investment analysts at Piper Sandler from $26.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 46.58% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a research report on Thursday, November 21st. Robert W. Baird cut their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wedbush lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Scotiabank lowered their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.53.

Sage Therapeutics Price Performance

Shares of SAGE opened at $6.14 on Thursday. The business has a 50-day moving average of $5.70 and a 200-day moving average of $7.80. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26. The company has a market capitalization of $375.60 million, a price-to-earnings ratio of -1.10 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results 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). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the previous year, the business posted ($2.81) EPS. The firm’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 -6.53 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC increased its position in shares of Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,672 shares during the last quarter. Creative Planning bought a new stake in shares of Sage Therapeutics during the 3rd quarter worth $88,000. Quest Partners LLC boosted its holdings in shares of Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Sage Therapeutics during the third quarter valued at about $146,000. 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.