Truist Financial Issues Pessimistic Forecast for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by investment analysts at Truist Financial from $13.00 to $8.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 17.65% from the stock’s previous close.

Several other research analysts also recently commented on SAGE. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $10.00 to $4.00 in a research note on Friday, October 4th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Robert W. Baird cut their price target 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. Bank of America cut their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, TD Cowen downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.82.

Sage Therapeutics Trading Down 19.8 %

SAGE traded down $1.68 during trading hours on Wednesday, hitting $6.80. The company’s stock had a trading volume of 727,622 shares, compared to its average volume of 970,245. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The business’s 50-day moving average price is $7.52 and its 200-day moving average price is $10.00. The stock has a market cap of $409.24 million, a price-to-earnings ratio of -0.82 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company’s revenue was up 337.1% on a year-over-year basis. During the same quarter last year, the firm earned ($2.81) EPS. On average, analysts forecast that Sage Therapeutics will post -6.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAGE. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Sage Therapeutics during the 2nd quarter worth approximately $7,281,000. Finally, Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after buying an additional 518,296 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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.