Sage Therapeutics (NASDAQ:SAGE) Given Overweight Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $26.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $52.00.

Other equities analysts also recently issued reports about the stock. Truist Financial dropped their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday. Royal Bank of Canada downgraded Sage Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $10.00 to $4.00 in a report on Friday, October 4th. Robert W. Baird lowered their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Down 0.5 %

Shares of Sage Therapeutics stock opened at $6.05 on Wednesday. The stock’s fifty day moving average is $7.39 and its two-hundred day moving average is $9.84. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26. The company has a market capitalization of $370.08 million, a PE ratio of -1.08 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.81) earnings per share. As a group, research analysts anticipate that Sage Therapeutics will post -6.5 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after purchasing an additional 333,805 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Sage Therapeutics during the first quarter worth about $187,000. Bellevue Group AG increased its holdings in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after acquiring an additional 952,193 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sage Therapeutics by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 1,693 shares during 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.