SAGE Therapeutics (NASDAQ:SAGE) had its price objective reduced by Piper Jaffray Companies from $206.00 to $125.00 in a report issued on Thursday morning, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently weighed in on SAGE. BidaskClub upgraded shares of SAGE Therapeutics from a strong sell rating to a sell rating in a report on Thursday, November 21st. Royal Bank of Canada lowered shares of SAGE Therapeutics from an outperform rating to a sector perform rating and set a $73.00 price objective for the company. in a research note on Thursday. SunTrust Banks cut shares of SAGE Therapeutics from a buy rating to a hold rating and dropped their target price for the stock from $210.00 to $70.00 in a research report on Thursday. Guggenheim dropped their target price on shares of SAGE Therapeutics from $200.00 to $110.00 and set a buy rating on the stock in a research report on Thursday. Finally, Cowen restated a buy rating and issued a $96.00 target price on shares of SAGE Therapeutics in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SAGE Therapeutics presently has a consensus rating of Buy and an average price target of $128.81.
Shares of NASDAQ:SAGE opened at $64.46 on Thursday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -7.98 and a beta of 2.52. The company has a quick ratio of 12.67, a current ratio of 12.67 and a debt-to-equity ratio of 0.03. SAGE Therapeutics has a 12-month low of $56.50 and a 12-month high of $193.56. The business’s 50 day moving average is $142.30 and its 200 day moving average is $160.81.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC lifted its position in shares of SAGE Therapeutics by 150.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 250 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 150 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in SAGE Therapeutics during the second quarter worth about $44,000. Tobam bought a new position in SAGE Therapeutics during the second quarter worth about $92,000. Tower Research Capital LLC TRC purchased a new position in shares of SAGE Therapeutics in the second quarter worth about $111,000. Finally, Athanor Capital LP purchased a new position in shares of SAGE Therapeutics in the second quarter worth about $201,000.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
Further Reading: Percentage Decliners
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