Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $19.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by equities research analysts at Scotiabank from $34.00 to $19.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price target suggests a potential upside of 48.90% from the company’s previous close.

A number of other research analysts also recently weighed in on SAGE. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $14.00 in a research note on Wednesday. HC Wainwright reaffirmed a “neutral” rating and set a $28.00 price objective on shares of Sage Therapeutics in a research note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

SAGE traded up $0.19 during mid-day trading on Thursday, reaching $12.76. The stock had a trading volume of 243,073 shares, compared to its average volume of 985,809. The stock has a market capitalization of $767.00 million, a P/E ratio of -1.39 and a beta of 0.86. The firm’s fifty day simple moving average is $20.06 and its two-hundred day simple moving average is $20.96. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s quarterly revenue was up 2621.5% compared to the same quarter last year. During the same period last year, the company earned ($2.47) EPS. As a group, analysts expect that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares in the last quarter. KBC Group NV bought a new position in shares of Sage Therapeutics in the 4th quarter valued at about $28,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Sage Therapeutics in the 1st quarter valued at about $34,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Sage Therapeutics by 74.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 2,148 shares in the last quarter. Institutional investors 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.