Scotiabank Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by Scotiabank from $19.00 to $17.00 in a research note released on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of Sage Therapeutics from $15.00 to $13.00 and set a neutral rating for the company in a report on Thursday. Truist Financial reduced their price objective on shares of Sage Therapeutics from $22.00 to $18.00 and set a hold rating for the company in a report on Friday, April 26th. StockNews.com upgraded shares of Sage Therapeutics from a sell rating to a hold rating in a report on Saturday, April 27th. Royal Bank of Canada reduced their price objective on shares of Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating for the company in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. cut shares of Sage Therapeutics from an overweight rating to a neutral rating and reduced their price objective for the company from $18.00 to $12.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sage Therapeutics has an average rating of Hold and an average price target of $33.55.

Sage Therapeutics Trading Up 5.0 %

NASDAQ:SAGE opened at $10.99 on Thursday. The stock has a market capitalization of $661.40 million, a price-to-earnings ratio of -1.31 and a beta of 0.90. The firm has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $16.76. Sage Therapeutics has a 12 month low of $9.73 and a 12 month high of $37.17.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.46) earnings per share. Equities analysts predict that Sage Therapeutics will post -6.65 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC raised its position in shares of Sage Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 1,130 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 1,480 shares during the period. Inspire Investing LLC raised its position in shares of Sage Therapeutics by 9.4% in the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 1,652 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sage Therapeutics by 4.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 1,693 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Sage Therapeutics by 29.8% in the fourth quarter. Handelsbanken Fonder AB now owns 12,644 shares of the biopharmaceutical company’s stock valued at $274,000 after purchasing an additional 2,900 shares during the period. Institutional investors 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.