Sage Therapeutics (NASDAQ:SAGE) Given New $12.00 Price Target at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by stock analysts at Scotiabank from $14.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective would indicate a potential upside of 65.86% from the stock’s current price.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 target price (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday. Piper Sandler reduced their price target on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. 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 for the company in a research report on Thursday, November 21st. Finally, Wedbush reiterated a “neutral” rating and issued a $6.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.65.

Sage Therapeutics Price Performance

Shares of SAGE stock traded up $0.05 during trading hours on Wednesday, reaching $7.24. 761,462 shares of the company’s stock were exchanged, compared to its average volume of 2,449,799. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $27.39. The company has a market cap of $442.56 million, a P/E ratio of -1.29 and a beta of 0.94. The company’s 50 day moving average is $6.28 and its two-hundred day moving average is $6.96.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. As a group, analysts predict that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently made changes to their positions in the company. Picton Mahoney Asset Management raised its holdings in Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,581 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Sage Therapeutics in the fourth quarter valued at approximately $49,000. Ieq Capital LLC bought a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $57,000. US Bancorp DE boosted its holdings in shares of Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in 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 worth $75,000 after buying an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.