Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $12.00 at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its price target decreased by Scotiabank from $14.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the stock. Truist Financial dropped their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. TD Cowen dropped their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Canaccord Genuity Group decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Finally, Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.65.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $7.16 on Wednesday. The business’s 50-day simple moving average is $6.34 and its 200-day simple moving average is $6.93. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $27.39. The firm has a market cap of $437.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate 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, equities research analysts forecast that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAGE. State Street Corp boosted its holdings in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares in the last quarter. RTW Investments LP boosted its stake in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Sage Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock valued at $3,265,000 after acquiring an additional 43,617 shares during the period. Geode Capital Management LLC grew its position in Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after acquiring an additional 3,757 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sage Therapeutics during the third quarter worth $473,000. 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.