Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $14.00 at HC Wainwright

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by HC Wainwright from $25.00 to $14.00 in a report issued on Wednesday morning, Benzinga reports. HC Wainwright currently has a neutral rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on the stock. Bank of America dropped their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Scotiabank reduced their price target on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Truist Financial cut their price objective on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group decreased their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $6.44 on Wednesday. The stock has a market cap of $387.57 million, a PE ratio of -0.76 and a beta of 0.91. The stock has a fifty day moving average of $7.52 and a 200 day moving average of $10.00. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. Sage Therapeutics’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter last year, the company earned ($2.81) EPS. As a group, sell-side analysts predict that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in shares of Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 1,130 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 1,480 shares in the last quarter. Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares during the last quarter. Inspire Investing LLC raised its position in Sage Therapeutics by 9.4% during the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 1,652 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake 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. Institutional investors own 99.22% of the company’s stock.

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.