Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $14.00

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) had its price target decreased by Scotiabank from $17.00 to $14.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's price objective would indicate a potential upside of 118.75% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Wedbush dropped their price target on Sage Therapeutics from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. TD Cowen lowered Sage Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. Truist Financial dropped their target price on Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday. HC Wainwright dropped their target price on Sage Therapeutics from $25.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada lowered Sage Therapeutics from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $10.00 to $4.00 in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.89.

Sage Therapeutics Trading Down 24.5 %

Shares of NASDAQ SAGE traded down $2.08 during mid-day trading on Wednesday, reaching $6.40. 1,830,575 shares of the company's stock were exchanged, compared to its average volume of 975,497. The firm has a market capitalization of $385.16 million, a price-to-earnings ratio of -0.76 and a beta of 0.91. The business has a fifty day simple moving average of $7.52 and a 200 day simple moving average of $10.00. Sage Therapeutics has a twelve month low of $5.84 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company's revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.81) EPS. Equities research analysts predict that Sage Therapeutics will post -6.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SAGE. Headlands Technologies LLC boosted its stake in shares of Sage Therapeutics by 245.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company's stock worth $43,000 after acquiring an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company's stock worth $85,000 after buying an additional 4,672 shares in the last quarter. Creative Planning acquired a new position in shares of Sage Therapeutics in the third quarter valued at about $88,000. Lazard Asset Management LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at about $127,000. Finally, Quest Partners LLC grew its stake in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company's stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.

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