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

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

A number of other research firms also recently commented on SAGE. JPMorgan Chase & Co. dropped their price target on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their price target on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Oppenheimer cut their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Finally, Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Stock Up 6.6 %

Shares of Sage Therapeutics stock opened at $5.17 on Thursday. The company has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $9.02. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $28.26. The stock has a market capitalization of $316.25 million, a price-to-earnings ratio of -0.93 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last issued 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 net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same quarter last year, the firm posted ($2.81) earnings per share. The company’s quarterly revenue was up 337.1% on a year-over-year basis. On average, sell-side analysts anticipate that Sage Therapeutics will post -6.5 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SAGE. Headlands Technologies LLC grew its position in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,672 shares during the last quarter. Creative Planning acquired a new stake in Sage Therapeutics during the 3rd quarter valued at approximately $88,000. Lazard Asset Management LLC acquired a new stake in Sage Therapeutics during the 1st quarter valued at approximately $127,000. Finally, Quest Partners LLC raised its holdings in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.