Royal Bank of Canada Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $15.00

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

Other equities research analysts have also issued reports about the stock. Oppenheimer reduced their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and lowered their price target for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. Morgan Stanley upped 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. Canaccord Genuity Group decreased their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday. Finally, Wedbush restated a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $37.72.

Sage Therapeutics Trading Up 3.6 %

Shares of SAGE opened at $14.18 on Friday. The stock has a market capitalization of $853.38 million, a price-to-earnings ratio of -1.69 and a beta of 0.86. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99. The firm has a fifty day simple moving average of $18.38 and a 200 day simple moving average of $20.61.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same quarter last year, the business posted ($2.46) EPS. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. As a group, research analysts predict that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SAGE. CWM LLC grew its holdings in shares of Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 883 shares during the last quarter. SG Americas Securities LLC increased its holdings in Sage Therapeutics by 11.0% in the third quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock valued at $383,000 after buying an additional 1,847 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Sage Therapeutics by 65.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock valued at $716,000 after purchasing an additional 13,720 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Sage Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 8,561 shares during the period. Institutional investors own 99.22% of the company’s stock.

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.