Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $19.00

Sage Therapeutics (NASDAQ:SAGE) had its price target dropped by equities research analysts at Scotiabank from $34.00 to $19.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective would indicate a potential upside of 48.90% from the company’s previous close.

SAGE has been the topic of several other research reports. TD Cowen cut their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their target price on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Oppenheimer cut their target price on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Price Performance

NASDAQ:SAGE traded up $0.19 during midday trading on Thursday, reaching $12.76. 243,073 shares of the company traded hands, compared to its average volume of 985,809. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The firm has a market capitalization of $767.00 million, a price-to-earnings ratio of -1.39 and a beta of 0.86. The company has a fifty day moving average price of $20.06 and a 200 day moving average price of $20.96.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm’s revenue for the quarter was up 2621.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.47) EPS. On average, equities research analysts forecast that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its holdings in shares of Sage Therapeutics by 63.6% during the first quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sage Therapeutics by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after buying an additional 10,134 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Sage Therapeutics during the first quarter valued at $34,000. Vanguard Group Inc. grew its holdings in shares of Sage Therapeutics by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after buying an additional 46,762 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Sage Therapeutics by 4.1% during the first quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after buying an additional 33,218 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.