Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $9.00 by Analysts at Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by Piper Sandler from $26.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. HC Wainwright reissued a “neutral” rating and issued a $14.00 target price on shares of Sage Therapeutics in a research note on Wednesday, November 20th. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. TD Cowen cut their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Finally, Robert W. Baird cut their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.53.

Sage Therapeutics Trading Up 6.2 %

Shares of Sage Therapeutics stock opened at $6.14 on Thursday. The business’s 50-day moving average price is $5.70 and its 200-day moving average price is $7.80. The firm has a market capitalization of $375.60 million, a PE ratio of -1.10 and a beta of 0.91. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $28.26.

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 the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the prior year, the business posted ($2.81) EPS. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. As a group, analysts predict that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after buying an additional 3,757 shares during the period. State Street Corp grew its stake in shares of Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares during the period. RTW Investments LP lifted its stake in shares of Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares during the period. Erste Asset Management GmbH bought a new position in shares of Sage Therapeutics in the 3rd quarter worth approximately $208,000. Finally, Martingale Asset Management L P grew its position in Sage Therapeutics by 55.1% during the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 16,717 shares during the period. 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.