Sage Therapeutics’ (SAGE) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $26.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $52.00.

A number of other equities research analysts have also issued reports on the stock. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. HC Wainwright lowered their target price on shares of Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Finally, Mizuho reduced their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Down 0.5 %

Sage Therapeutics stock opened at $6.05 on Wednesday. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26. The firm has a market capitalization of $370.10 million, a price-to-earnings ratio of -1.08 and a beta of 0.91. The company has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $9.95.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same period in the previous year, the company earned ($2.81) EPS. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. On average, research analysts anticipate that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake 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. Vanguard Group Inc. raised its stake in Sage Therapeutics by 8.1% in 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. Virtu Financial LLC acquired a new position in Sage Therapeutics in the 1st quarter valued at about $187,000. Bellevue Group AG raised its stake in 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 purchasing an additional 952,193 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Sage Therapeutics by 4.6% in the 1st 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 last quarter. Institutional investors and hedge funds 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.