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

Sage Therapeutics (NASDAQ:SAGE) had its target price dropped by stock analysts at Truist Financial from $13.00 to $8.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s target price suggests a potential upside of 17.65% from the stock’s current price.

Several other equities analysts also recently issued reports on SAGE. HC Wainwright decreased 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 note on Wednesday. Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Bank of America lowered their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.82.

Sage Therapeutics Stock Down 19.8 %

NASDAQ SAGE traded down $1.68 on Wednesday, hitting $6.80. 727,622 shares of the stock were exchanged, compared to its average volume of 970,245. The company has a 50-day moving average price of $7.52 and a 200-day moving average price of $10.00. The company has a market cap of $409.24 million, a PE ratio of -0.82 and a beta of 0.91. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. During the same period last year, the business posted ($2.81) EPS. As a group, equities research analysts predict that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after acquiring an additional 333,805 shares during the period. Vanguard Group Inc. increased its position in Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares in the last quarter. Virtu Financial LLC purchased a new position in Sage Therapeutics in the first quarter valued at approximately $187,000. Bellevue Group AG lifted its position in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sage Therapeutics by 4.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock worth $723,000 after acquiring an additional 1,693 shares in the last quarter. Hedge funds and other 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.