Bank of America Downgrades Sage Therapeutics (NASDAQ:SAGE) to Underperform

Bank of America lowered shares of Sage Therapeutics (NASDAQ:SAGE) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have $14.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $24.00.

A number of other analysts also recently weighed in on SAGE. StockNews.com raised shares of Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their price target on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research note on Thursday, February 15th. Morgan Stanley upped their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research note on Tuesday, March 26th. Finally, HC Wainwright upped their price target on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $40.56.

Sage Therapeutics Stock Down 19.6 %

Shares of NASDAQ SAGE opened at $12.57 on Wednesday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The firm’s fifty day moving average is $20.06 and its 200 day moving average is $20.96.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The business had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company’s quarterly revenue was up 2621.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.47) EPS. Equities research analysts expect that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its position in shares of Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. KBC Group NV purchased a new stake in shares of Sage Therapeutics during the 4th quarter valued at about $28,000. China Universal Asset Management Co. Ltd. increased its position in shares of Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 748 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Sage Therapeutics during the 1st quarter valued at about $34,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Sage Therapeutics by 74.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 2,148 shares during the last quarter. Hedge funds and other institutional investors 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.