Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Free Report) shares hit a new 52-week low during trading on Thursday after Scotiabank lowered their price target on the stock from $19.00 to $17.00. Scotiabank currently has a sector outperform rating on the stock. Sage Therapeutics traded as low as $9.73 and last traded at $10.25, with a volume of 342549 shares changing hands. The stock had previously closed at $10.38.
Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Sage Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $12.00 in a research report on Thursday. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Robert W. Baird lowered their target price on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Oppenheimer lowered their target price on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Finally, Citigroup started coverage on Sage Therapeutics in a research report on Wednesday, May 29th. They issued a “sell” rating and a $8.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.95.
Institutional Trading of Sage Therapeutics
Several large investors have recently made changes to their positions in SAGE. Bellevue Group AG grew its stake in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares during the period. Vanguard Group Inc. boosted its stake in Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares during the last quarter. Baker BROS. Advisors LP acquired a new position in Sage Therapeutics during the 1st quarter valued at about $7,631,000. Price T Rowe Associates Inc. MD boosted its stake in Sage Therapeutics by 69.8% during 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. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after purchasing an additional 183,607 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.
Sage Therapeutics Stock Performance
The firm has a market cap of $630.08 million, a price-to-earnings ratio of -1.22 and a beta of 0.90. The business has a 50 day simple moving average of $11.33 and a 200-day simple moving average of $16.97.
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS. As a group, research analysts anticipate that Sage Therapeutics, Inc. will post -6.54 earnings per share for the current year.
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.