Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $8.00 by Analysts at Oppenheimer

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by Oppenheimer from $9.00 to $8.00 in a research note released on Wednesday, Benzinga reports. Oppenheimer currently has a market perform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on SAGE. Robert W. Baird dropped their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $10.00 to $4.00 in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Mizuho dropped their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $6.05 on Wednesday. The stock has a market capitalization of $370.08 million, a PE ratio of -1.08 and a beta of 0.92. The business has a 50 day simple moving average of $7.39 and a two-hundred day simple moving average of $9.84. Sage Therapeutics has a 1-year low of $5.84 and a 1-year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly 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 firm had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 337.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.81) EPS. On average, analysts anticipate that Sage Therapeutics will post -6.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SAGE. Bellevue Group AG raised its position in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Sage Therapeutics in the 2nd quarter worth $7,281,000. Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after acquiring an additional 518,296 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Sage Therapeutics by 831.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

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.