Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $13.00 at Robert W. Baird

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by Robert W. Baird from $15.00 to $13.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on the stock. Baird R W upgraded shares of Sage Therapeutics to a hold rating in a research report on Wednesday, May 29th. HC Wainwright reissued a neutral rating and set a $25.00 price objective on shares of Sage Therapeutics in a report on Tuesday, July 2nd. Oppenheimer dropped their price objective on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a report on Thursday, April 18th. Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, April 26th. Finally, Truist Financial dropped their price objective on Sage Therapeutics from $22.00 to $18.00 and set a hold rating for the company in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics has an average rating of Hold and an average price target of $33.55.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $10.99 on Thursday. Sage Therapeutics has a 52 week low of $9.73 and a 52 week high of $37.17. The company’s fifty day moving average is $11.28 and its 200-day moving average is $16.82.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter last year, the company earned ($2.46) EPS. As a group, equities research analysts anticipate that Sage Therapeutics will post -6.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SAGE. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $293,000. Values First Advisors Inc. grew its position in shares of Sage Therapeutics by 59.8% in the 4th quarter. Values First Advisors Inc. now owns 16,980 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 6,354 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 5,406 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Sage Therapeutics by 3,361.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,040 shares of the biopharmaceutical company’s stock valued at $413,000 after purchasing an additional 18,490 shares during the period. 99.22% of the stock is currently 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.