Royal Bank of Canada Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $15.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective dropped by equities research analysts at Royal Bank of Canada from $26.00 to $15.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.93% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Scotiabank dropped their price objective on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. HC Wainwright restated a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, TD Cowen lowered their price target on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.22.

Sage Therapeutics Trading Up 1.4 %

Shares of NASDAQ:SAGE traded up $0.19 during midday trading on Friday, hitting $13.77. 499,623 shares of the stock were exchanged, compared to its average volume of 1,022,017. The stock has a market cap of $827.71 million, a P/E ratio of -1.50 and a beta of 0.86. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The company has a 50 day moving average price of $18.75 and a 200-day moving average price of $20.68.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.46) EPS. On average, equities research analysts expect that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its position in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Sage Therapeutics by 11.0% in the 3rd quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 1,847 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Sage Therapeutics by 65.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock valued at $716,000 after purchasing an additional 13,720 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sage Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock valued at $815,000 after purchasing an additional 8,561 shares in 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.