Sage Therapeutics (NASDAQ:SAGE) Downgraded to Hold at TD Cowen

TD Cowen downgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat Ratings reports. They currently have $10.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $16.00.

Several other brokerages also recently commented on SAGE. Needham & Company LLC restated a hold rating on shares of Sage Therapeutics in a research note on Wednesday, July 24th. Scotiabank reduced their target price on shares of Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating on the stock in a research note on Thursday, July 25th. Canaccord Genuity Group reduced their target price on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. downgraded shares of Sage Therapeutics from an overweight rating to a neutral rating and reduced their target price for the company from $18.00 to $12.00 in a research note on Thursday, July 25th. Finally, Mizuho reduced their target price on shares of Sage Therapeutics from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $33.25.

Sage Therapeutics Price Performance

SAGE opened at $9.60 on Tuesday. Sage Therapeutics has a fifty-two week low of $9.31 and a fifty-two week high of $37.17. The firm’s fifty day moving average price is $11.20 and its two-hundred day moving average price is $16.39. The company has a market capitalization of $577.75 million, a P/E ratio of -1.14 and a beta of 0.90.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 53.24% and a negative net margin of 458.30%. The business had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. During the same quarter in the prior year, the firm earned ($2.68) EPS. The firm’s quarterly revenue was up 249.8% on a year-over-year basis. On average, equities research analysts expect that Sage Therapeutics will post -6.6 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Vanguard Group Inc. raised its holdings in Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after purchasing an additional 175,565 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $293,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 5,406 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Sage Therapeutics by 3,361.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,040 shares of the biopharmaceutical company’s stock valued at $413,000 after acquiring an additional 18,490 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sage Therapeutics by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 2,967 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

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.