Scotiabank Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $12.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by Scotiabank from $14.00 to $12.00 in a research report report published on Wednesday,Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial lowered their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a report on Thursday, November 21st. TD Cowen dropped their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Oppenheimer decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sage Therapeutics currently has an average rating of “Hold” and a consensus target price of $9.65.

Sage Therapeutics Price Performance

SAGE stock opened at $7.16 on Wednesday. The business has a fifty day moving average price of $6.34 and a 200 day moving average price of $6.93. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $27.39. The stock has a market capitalization of $437.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. On average, equities analysts expect that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP grew its holdings in shares of Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after acquiring an additional 111,123 shares in the last quarter. State Street Corp boosted its position in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares during the last quarter. Geode Capital Management LLC boosted its position in Sage Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock valued at $6,827,000 after purchasing an additional 14,049 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock worth $2,510,000 after purchasing an additional 10,116 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Sage Therapeutics by 11.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after purchasing an additional 18,814 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

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.