Royal Bank of Canada Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $15.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by Royal Bank of Canada from $26.00 to $15.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 8.93% from the company’s previous close.

Several other analysts have also recently weighed in on SAGE. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. TD Cowen lowered their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Mizuho decreased their target price on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley lifted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $28.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $38.22.

Sage Therapeutics Stock Up 1.4 %

SAGE traded up $0.19 on Friday, hitting $13.77. The company’s stock had a trading volume of 499,623 shares, compared to its average volume of 1,022,017. The company’s 50 day simple moving average is $18.75 and its 200-day simple moving average is $20.68. The firm has a market cap of $827.71 million, a P/E ratio of -1.50 and a beta of 0.86. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same period last year, the business posted ($2.46) earnings per share. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. Equities analysts predict that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently bought and sold shares of SAGE. CWM LLC raised its position in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after acquiring an additional 1,375 shares during the period. Values First Advisors Inc. acquired a new stake in Sage Therapeutics in the 3rd quarter valued at $219,000. Finally, Quest Partners LLC acquired a new stake in Sage Therapeutics in the 4th quarter valued at $261,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.