Stifel Nicolaus Has Lowered Expectations for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE - Free Report) had its price objective lowered by Stifel Nicolaus from $10.00 to $6.00 in a research report report published on Monday,Benzinga reports. The firm currently has a hold rating on the biopharmaceutical company's stock.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Piper Sandler restated an "overweight" rating and set a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Scotiabank cut their price target on Sage Therapeutics from $17.00 to $14.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 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, October 30th. Finally, Bank of America cut their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an "underperform" rating for the company in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Sage Therapeutics presently has an average rating of "Hold" and an average target price of $11.53.

Sage Therapeutics Price Performance

Sage Therapeutics stock traded down $0.04 during mid-day trading on Monday, hitting $5.35. 1,161,160 shares of the company's stock traded hands, compared to its average volume of 967,405. The firm has a 50 day simple moving average of $6.20 and a two-hundred day simple moving average of $8.34. The stock has a market cap of $326.97 million, a price-to-earnings ratio of -0.96 and a beta of 0.87. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same quarter in the prior year, the firm earned ($2.81) earnings per share. The firm's revenue for the quarter was up 337.1% on a year-over-year basis. On average, research analysts anticipate that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quest Partners LLC increased its position in 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 buying an additional 1,486 shares in the last quarter. AdvisorShares Investments LLC boosted its holdings in Sage Therapeutics by 13.6% in the second quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company's stock worth $177,000 after purchasing an additional 1,918 shares during the period. Headlands Technologies LLC raised its position 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 during the period. Geode Capital Management LLC boosted its position in Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock worth $8,975,000 after acquiring an additional 3,757 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Sage Therapeutics by 66.1% during the 3rd 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. 99.22% of the stock is owned by hedge funds and other 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.