TD Cowen Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its price target decreased by TD Cowen from $10.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. TD Cowen currently has a hold rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on SAGE. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 target price (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Truist Financial decreased their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Bank of America dropped their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, Wedbush dropped their price objective 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. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Trading Up 6.6 %

Shares of Sage Therapeutics stock opened at $5.17 on Thursday. The company has a market capitalization of $316.25 million, a P/E ratio of -0.93 and a beta of 0.92. The stock has a fifty day simple moving average of $6.70 and a 200 day simple moving average of $9.02. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its 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 during the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the previous year, the company earned ($2.81) EPS. The business’s revenue was up 337.1% compared to the same quarter last year. On average, analysts predict that Sage Therapeutics will post -6.5 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC boosted its position in shares of Sage Therapeutics by 245.3% in 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 period. China Universal Asset Management Co. Ltd. lifted its stake 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 in the last quarter. Creative Planning purchased a new stake in Sage Therapeutics in the 3rd quarter worth approximately $88,000. Lazard Asset Management LLC bought a new position in Sage Therapeutics in the 1st quarter valued at $127,000. Finally, Quest Partners LLC grew its position in shares of Sage Therapeutics by 14.5% during 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. 99.22% of the stock is currently owned by institutional investors.

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.