Piper Sandler Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by Piper Sandler from $26.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price on the stock in a research report on Thursday, November 21st. Robert W. Baird decreased their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Scotiabank decreased their price objective on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Wedbush decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America reduced their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Trading Up 6.2 %

NASDAQ SAGE opened at $6.14 on Thursday. The firm has a market capitalization of $375.60 million, a PE ratio of -1.10 and a beta of 0.91. The business’s 50-day moving average price is $5.70 and its two-hundred day moving average price is $7.80. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.80 million. During the same period in the prior year, the company posted ($2.81) earnings per share. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, analysts forecast that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC increased its position 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 valued at $128,000 after buying an additional 1,486 shares during the period. AdvisorShares Investments LLC raised its position in shares of 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 buying an additional 1,918 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares in the last quarter. Geode Capital Management LLC grew its position in Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in 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 worth $85,000 after acquiring an additional 4,672 shares during 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.