Royal Bank of Canada Lowers Sage Therapeutics (NASDAQ:SAGE) to Sector Perform

Royal Bank of Canada cut shares of Sage Therapeutics (NASDAQ:SAGE) from an outperform rating to a sector perform rating in a research report released on Friday, Marketbeat reports. The brokerage currently has $4.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $10.00.

Several other research firms also recently commented on SAGE. The Goldman Sachs Group reduced their price objective on Sage Therapeutics from $19.00 to $11.00 and set a neutral rating on the stock in a report on Friday, July 26th. Robert W. Baird decreased their price objective on Sage Therapeutics from $15.00 to $13.00 and set a neutral rating for the company in a report on Thursday, July 25th. Scotiabank lowered their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating for the company in a research note on Thursday, July 25th. Truist Financial cut their target price on shares of Sage Therapeutics from $18.00 to $13.00 and set a hold rating on the stock in a research report on Wednesday, August 14th. Finally, HC Wainwright reaffirmed a neutral rating and issued a $25.00 price target on shares of Sage Therapeutics in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $15.41.

Sage Therapeutics Trading Down 5.0 %

NASDAQ:SAGE opened at $6.64 on Friday. The stock has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $11.23. The company has a market cap of $405.37 million, a price-to-earnings ratio of -0.79 and a beta of 0.91. Sage Therapeutics has a twelve month low of $6.47 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 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 249.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.68) earnings per share. As a group, equities research analysts predict that Sage Therapeutics will post -6.47 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently made changes to their positions in SAGE. RTW Investments LP raised its stake in Sage Therapeutics by 0.9% in the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after buying an additional 47,537 shares during the last quarter. Pennant Investors LP purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $379,000. Caxton Associates LP boosted its stake in Sage Therapeutics by 76.1% in the 4th quarter. Caxton Associates LP now owns 119,781 shares of the biopharmaceutical company’s stock worth $2,596,000 after purchasing an additional 51,746 shares in the last quarter. Fisher Asset Management LLC grew its position in Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Sage Therapeutics by 2.1% during the 4th 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 in the last quarter. 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.