Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $8.00 at Truist Financial

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by Truist Financial from $13.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. HC Wainwright lowered their price objective on shares of Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday. Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, Mizuho dropped their price target 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. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $6.44 on Wednesday. The company has a market capitalization of $387.57 million, a price-to-earnings ratio of -0.76 and a beta of 0.91. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26. The stock has a 50-day simple moving average of $7.52 and a 200 day simple moving average of $10.00.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results 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 return on equity of 55.87% and a negative net margin of 458.30%. The firm had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same quarter in the previous year, the business posted ($2.81) EPS. Sage Therapeutics’s revenue was up 337.1% compared to the same quarter last year. On average, equities research analysts forecast that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC raised its position in 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 acquiring an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. grew 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 worth $85,000 after purchasing an additional 4,672 shares during the last quarter. Creative Planning bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $88,000. Lazard Asset Management LLC acquired a new stake in Sage Therapeutics during the first quarter valued at approximately $127,000. Finally, Quest Partners LLC boosted its holdings 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. 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.