Sage Therapeutics (NASDAQ:SAGE) Lowered to Hold Rating by Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) was downgraded by Piper Sandler from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $8.50 target price on the biopharmaceutical company’s stock, down from their previous target price of $9.00. Piper Sandler’s price objective indicates a potential downside of 6.90% from the stock’s previous close.

Several other brokerages have also recently weighed in on SAGE. Wall Street Zen cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Bank of America assumed coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Monday. Canaccord Genuity Group lifted their price objective on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Truist Financial boosted their target price on shares of Sage Therapeutics from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $9.13 on Tuesday. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $13.47. The business’s fifty day moving average price is $7.11 and its two-hundred day moving average price is $6.93. The company has a market capitalization of $571.72 million, a P/E ratio of -1.57 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. During the same period last year, the business posted ($1.80) earnings per share. Sage Therapeutics’s revenue for the quarter was up 78.0% on a year-over-year basis. On average, research analysts expect that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AlphaQuest LLC purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at approximately $32,000. Picton Mahoney Asset Management raised its stake in Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,581 shares during the period. Headlands Technologies LLC acquired a new stake in Sage Therapeutics during the 1st quarter valued at $37,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Sage Therapeutics in the fourth quarter valued at $49,000. Finally, Ieq Capital LLC acquired a new stake in shares of Sage Therapeutics in the fourth quarter worth $57,000. 99.22% of the stock is owned by hedge funds and other 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.