Sage Therapeutics (NASDAQ:SAGE) Downgraded by Bank of America

Sage Therapeutics (NASDAQ:SAGE) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $14.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $24.00. Bank of America‘s price target points to a potential upside of 12.18% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Morgan Stanley upped their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Royal Bank of Canada upped their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. HC Wainwright upped their target price on shares of Sage Therapeutics from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.56.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock traded down $3.15 on Wednesday, reaching $12.48. The stock had a trading volume of 3,457,761 shares, compared to its average volume of 983,745. The business’s 50-day moving average price is $20.47 and its two-hundred day moving average price is $21.05. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The stock has a market cap of $750.17 million, a P/E ratio of -1.38 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($1.28) by $0.73. The firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business’s quarterly revenue was up 2621.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.47) EPS. As a group, equities analysts forecast that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its holdings in Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 235 shares during the last quarter. Captrust Financial Advisors grew its holdings in Sage Therapeutics by 9.0% during the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock worth $286,000 after acquiring an additional 502 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Sage Therapeutics by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock worth $2,873,000 after acquiring an additional 600 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 698 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 748 shares during 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.