Piper Sandler Reiterates "Overweight" Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $26.00 price target on the biopharmaceutical company's stock, down from their previous price target of $52.00. Piper Sandler's price target suggests a potential upside of 310.74% from the stock's current price.

SAGE has been the topic of several other reports. Bank of America dropped their target price on Sage Therapeutics from $11.00 to $6.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 9th. Mizuho dropped their target price on Sage Therapeutics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Friday, July 19th. The Goldman Sachs Group decreased their price target on Sage Therapeutics from $19.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Royal Bank of Canada cut Sage Therapeutics from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $10.00 to $4.00 in a research note on Friday, October 4th. Finally, TD Cowen cut Sage Therapeutics from a "buy" rating to a "hold" rating and decreased their price target for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.06.

Sage Therapeutics Price Performance

Shares of SAGE stock traded down $2.15 on Wednesday, hitting $6.33. 1,438,185 shares of the stock traded hands, compared to its average volume of 972,305. The company has a market capitalization of $380.95 million, a PE ratio of -0.81 and a beta of 0.91. Sage Therapeutics has a 1-year low of $5.84 and a 1-year high of $28.26. The company's fifty day moving average is $7.52 and its 200 day moving average is $10.00.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results 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). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same period in the prior year, the business earned ($2.81) earnings per share. Sage Therapeutics's quarterly revenue was up 337.1% on a year-over-year basis. As a group, equities research analysts expect that Sage Therapeutics will post -6.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC grew its holdings 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 purchasing an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company's stock valued at $85,000 after buying an additional 4,672 shares during the period. Creative Planning acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at $88,000. Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics during the first quarter worth $127,000. Finally, Quest Partners LLC grew its stake in shares of 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 purchasing an additional 1,486 shares during the period. Institutional investors and hedge funds 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.

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