Truist Financial Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by Truist Financial from $13.00 to $8.00 in a report published on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on SAGE. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada cut shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $4.00 in a research report on Friday, October 4th. HC Wainwright lowered their price objective on shares of Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Wedbush decreased their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $6.05 on Wednesday. The firm has a fifty day moving average price of $7.44 and a two-hundred day moving average price of $9.95. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26. The company has a market cap of $370.10 million, a price-to-earnings ratio of -1.08 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period in the previous year, the business earned ($2.81) earnings per share. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. Equities research analysts expect that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares in the last quarter. Bellevue Group AG boosted its stake in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 333,805 shares in the last quarter. Federated Hermes Inc. bought a new stake in Sage Therapeutics during the second quarter worth about $7,281,000. Finally, Renaissance Technologies LLC boosted its stake in Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after acquiring an additional 518,296 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.