Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $19.00 at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its price objective trimmed by Scotiabank from $34.00 to $19.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a sector outperform rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Wedbush reaffirmed a neutral rating and set a $24.00 price objective on shares of Sage Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research note on Tuesday, March 26th. Royal Bank of Canada boosted their target price on Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research note on Thursday, February 15th. HC Wainwright reissued a neutral rating and set a $28.00 target price on shares of Sage Therapeutics in a research note on Wednesday. Finally, Bank of America downgraded Sage Therapeutics from a neutral rating to an underperform rating and lowered their target price for the stock from $24.00 to $14.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Stock Up 3.7 %

SAGE opened at $13.04 on Thursday. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The company has a 50-day simple moving average of $20.06 and a 200 day simple moving average of $20.96.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter in the prior year, the business posted ($2.47) earnings per share. Sage Therapeutics’s revenue was up 2621.5% compared to the same quarter last year. Sell-side analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Sage Therapeutics by 3.5% in the fourth quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 235 shares during the period. Captrust Financial Advisors boosted its holdings in Sage Therapeutics by 9.0% in the second quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 502 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Sage Therapeutics by 1.0% in the second quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after acquiring an additional 600 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Sage Therapeutics by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 698 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares during the last quarter. Institutional investors and hedge funds 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.