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

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by analysts at Oppenheimer from $9.00 to $8.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target would indicate a potential upside of 17.65% from the company’s current price.

A number of other research analysts have also weighed in on the company. HC Wainwright decreased their price objective on Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price objective 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. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Finally, Scotiabank decreased their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.29.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded down $1.68 during mid-day trading on Wednesday, reaching $6.80. 727,622 shares of the stock were exchanged, compared to its average volume of 970,245. The company has a market capitalization of $409.24 million, a P/E ratio of -0.81 and a beta of 0.91. The business’s 50 day moving average is $7.52 and its 200-day moving average is $10.00. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26.

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

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the last quarter. Bellevue Group AG lifted its stake in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Sage Therapeutics during the second quarter valued at $7,281,000. Finally, Renaissance Technologies LLC boosted its stake in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after purchasing an additional 518,296 shares during the period. Hedge funds and other institutional investors 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.