Scotiabank Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $12.00

Sage Therapeutics (NASDAQ:SAGE - Free Report) had its price objective lowered by Scotiabank from $14.00 to $12.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a sector outperform rating on the biopharmaceutical company's stock.

Other equities analysts have also issued reports about the company. Wedbush restated a "neutral" rating and set a $6.00 price target on shares of Sage Therapeutics in a research report on Wednesday. Royal Bank of Canada raised shares of Sage Therapeutics from an "underperform" rating to a "sector perform" rating and set a $4.00 price target on the stock in a report on Thursday, November 21st. TD Cowen lowered their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Thursday, November 21st. StockNews.com downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Finally, HC Wainwright reiterated a "neutral" rating and issued a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Sage Therapeutics currently has a consensus rating of "Hold" and an average target price of $9.65.

Sage Therapeutics Price Performance

Shares of SAGE traded down $0.04 during midday trading on Wednesday, reaching $7.14. The stock had a trading volume of 1,943,315 shares, compared to its average volume of 2,832,859. The company's 50-day moving average is $6.40 and its 200 day moving average is $6.88. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $26.25.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Equities analysts predict that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently bought and sold shares of SAGE. Picton Mahoney Asset Management lifted its stake in shares of Sage Therapeutics by 126.0% in the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 3,581 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Sage Therapeutics during the 4th quarter valued at $49,000. Ieq Capital LLC bought a new stake in shares of Sage Therapeutics in the 4th quarter worth $57,000. US Bancorp DE raised its stake in shares of Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after buying an additional 2,446 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.