Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $6.00 by Analysts at Stifel Nicolaus

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by Stifel Nicolaus from $10.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also weighed in on the company. 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 report on Wednesday, October 30th. 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. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a report on Thursday, November 21st. TD Cowen reduced their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.53.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $5.35 on Monday. The stock has a market capitalization of $326.97 million, a PE ratio of -0.96 and a beta of 0.87. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26. The company’s 50-day simple moving average is $6.20 and its 200-day simple moving average is $8.34.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company 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%. Sage Therapeutics’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same period in the prior year, the business earned ($2.81) EPS. On average, sell-side analysts predict that Sage Therapeutics will post -6.53 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new stake in shares of Sage Therapeutics in the second quarter valued at $7,281,000. RTW Investments LP grew its stake in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Sage Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after purchasing an additional 43,617 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after buying an additional 518,296 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Sage Therapeutics in the second quarter valued at approximately $1,008,000. Institutional investors and hedge funds 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.