Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Scotiabank from $19.00 to $17.00 in a report issued on Thursday morning, Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the company. Mizuho cut their price objective on Sage Therapeutics from $18.00 to $16.00 and set a neutral rating for the company in a research report on Friday, July 19th. HC Wainwright reissued a neutral rating and set a $25.00 price objective on shares of Sage Therapeutics in a research report on Thursday. Citigroup started coverage on Sage Therapeutics in a research report on Wednesday, May 29th. They set a sell rating and a $8.00 price objective for the company. The Goldman Sachs Group dropped their target price on Sage Therapeutics from $28.00 to $19.00 and set a neutral rating for the company in a research report on Friday, April 26th. Finally, TD Cowen dropped their target price on Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research report on Thursday, April 18th. Two 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 stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $33.55.

Sage Therapeutics Stock Up 5.0 %

NASDAQ SAGE opened at $10.99 on Thursday. The business’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $16.76. The firm has a market cap of $661.40 million, a PE ratio of -1.31 and a beta of 0.90. Sage Therapeutics has a 52 week low of $9.73 and a 52 week high of $37.17.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.46) earnings per share. Research analysts expect that Sage Therapeutics will post -6.65 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after buying an additional 175,565 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sage Therapeutics in the fourth quarter valued at approximately $293,000. Values First Advisors Inc. lifted its stake in Sage Therapeutics by 59.8% in the fourth quarter. Values First Advisors Inc. now owns 16,980 shares of the biopharmaceutical company’s stock valued at $368,000 after buying an additional 6,354 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Sage Therapeutics by 353.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 5,406 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Sage Therapeutics by 3,361.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 19,040 shares of the biopharmaceutical company’s stock valued at $413,000 after buying an additional 18,490 shares during the last quarter. Hedge funds and other 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.