Sage Therapeutics (NASDAQ:SAGE) Given New $15.00 Price Target at Royal Bank of Canada

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by Royal Bank of Canada from $26.00 to $15.00 in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on SAGE. Wedbush reiterated a neutral rating and issued a $24.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Canaccord Genuity Group decreased their price objective on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday. Morgan Stanley raised their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Finally, Mizuho lowered their price target on Sage Therapeutics from $20.00 to $18.00 and set a neutral rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $37.72.

Sage Therapeutics Price Performance

SAGE stock opened at $13.69 on Friday. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99. The company’s 50-day moving average price is $18.56 and its two-hundred day moving average price is $20.64.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The business had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. Sage Therapeutics’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period last year, the firm posted ($2.46) earnings per share. On average, sell-side analysts expect that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SAGE. Pinnacle Associates Ltd. raised its holdings in Sage Therapeutics by 69.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock valued at $5,358,000 after buying an additional 117,344 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Sage Therapeutics by 1,058.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after purchasing an additional 143,075 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Sage Therapeutics by 8.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after purchasing an additional 5,068 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other 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.