Oppenheimer Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by Oppenheimer from $9.00 to $8.00 in a report published on Wednesday morning, Benzinga reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

SAGE has been the topic of several other reports. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Bank of America lowered their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. HC Wainwright lowered their price objective on Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $4.00 in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Down 0.5 %

Shares of NASDAQ SAGE opened at $6.05 on Wednesday. The business’s 50 day moving average is $7.44 and its two-hundred day moving average is $9.95. The company has a market cap of $370.10 million, a P/E ratio of -1.08 and a beta of 0.91. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business’s quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.81) earnings per share. Sell-side analysts expect that Sage Therapeutics will post -6.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC boosted its stake in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Sage Therapeutics in the first quarter worth $127,000. Virtu Financial LLC acquired a new position in Sage Therapeutics in the first quarter worth $187,000. China Universal Asset Management Co. Ltd. boosted its stake in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares in the last quarter. Institutional investors and hedge funds 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.