Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $9.00 at Piper Sandler

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by analysts at Piper Sandler from $26.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target suggests a potential upside of 54.64% from the company’s previous close.

SAGE has been the subject of several other reports. HC Wainwright reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a research report on Thursday, November 21st. Robert W. Baird reduced their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, Truist Financial reduced their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.53.

Sage Therapeutics Price Performance

Shares of SAGE stock traded up $0.39 on Thursday, hitting $5.82. The company’s stock had a trading volume of 103,154 shares, compared to its average volume of 1,001,295. The stock has a market capitalization of $356.03 million, a price-to-earnings ratio of -1.04 and a beta of 0.87. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26. The firm’s fifty day moving average price is $5.77 and its 200-day moving average price is $7.85.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. During the same quarter last year, the company posted ($2.81) EPS. The business’s revenue was up 337.1% compared to the same quarter last year. Analysts predict that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. Geode Capital Management LLC increased its stake in Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after purchasing an additional 3,757 shares in the last quarter. State Street Corp lifted its position in Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after acquiring an additional 451,377 shares in the last quarter. RTW Investments LP increased its holdings in Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at about $208,000. Finally, Martingale Asset Management L P lifted its holdings in shares of Sage Therapeutics by 55.1% in the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 16,717 shares in the last quarter. 99.22% of the stock is currently 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.