Piper Sandler Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its target price lowered by equities researchers at Piper Sandler from $26.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective suggests a potential upside of 46.58% from the stock’s current price.

Several other brokerages also recently commented on SAGE. Scotiabank reduced their target price on 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Stifel Nicolaus reduced their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a report on Monday, December 16th. Finally, Wedbush lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Trading Up 6.2 %

Shares of SAGE opened at $6.14 on Thursday. The company’s fifty day simple moving average is $5.70 and its 200 day simple moving average is $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 cap 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 data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share 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 analyst estimates of $10.80 million. During the same quarter in the prior year, the firm earned ($2.81) earnings per share. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. As a group, research analysts forecast 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 company. RTW Investments LP raised 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 acquiring an additional 111,123 shares in the last quarter. State Street Corp increased its position in Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after purchasing an additional 3,757 shares during the last quarter. Federated Hermes Inc. bought a new position in Sage Therapeutics in the 2nd quarter valued at approximately $7,281,000. Finally, Renaissance Technologies LLC boosted its position in 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. 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.