Sage Therapeutics’ (SAGE) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has a $26.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $52.00.

Several other analysts have also issued reports on the stock. Wedbush decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their price target on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Oppenheimer decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday. Scotiabank decreased their target price on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $10.00 to $4.00 in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics currently has an average rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Trading Down 24.1 %

NASDAQ:SAGE opened at $6.44 on Wednesday. The firm has a market capitalization of $387.57 million, a PE ratio of -0.76 and a beta of 0.91. The firm’s fifty day simple moving average is $7.52 and its 200 day simple moving average is $10.00. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million during 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%. The business’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.81) earnings per share. As a group, analysts anticipate that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SAGE. Vanguard Group Inc. grew its holdings in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after purchasing an additional 111,358 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sage Therapeutics by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 1,693 shares during the period. Inspire Investing LLC grew its holdings in Sage Therapeutics by 9.4% during the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 1,652 shares during the period. ProShare Advisors LLC grew its holdings in Sage Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 1,130 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Sage Therapeutics by 9.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 1,480 shares during the period. 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.