Canaccord Genuity Group Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by Canaccord Genuity Group from $9.00 to $8.00 in a research note published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Piper Sandler cut their target price on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Stifel Nicolaus cut their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, December 16th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday. Finally, Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price on the stock in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Price Performance

Shares of SAGE opened at $7.14 on Wednesday. The business’s fifty day moving average price is $6.40 and its 200 day moving average price is $6.91. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $26.25. The stock has a market capitalization of $438.97 million, a PE ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. As a group, research analysts anticipate that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 3,581 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics during the 4th quarter worth about $49,000. Ieq Capital LLC acquired a new stake in Sage Therapeutics during the 4th quarter worth about $57,000. US Bancorp DE raised its holdings in Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 2,268 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 2,446 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.