Sage Therapeutics (NASDAQ:SAGE) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a hold rating to a sell rating in a research report sent to investors on Friday.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research note on Thursday. Royal Bank of Canada raised their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Oppenheimer reduced their price objective on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday. Finally, Scotiabank reduced their price objective on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $39.28.

Sage Therapeutics Price Performance

SAGE opened at $13.33 on Friday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The business’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $20.91.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter in the prior year, the firm earned ($2.47) earnings per share. The firm’s revenue was up 2621.5% on a year-over-year basis. As a group, analysts expect that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 235 shares in the last quarter. Captrust Financial Advisors boosted its position in Sage Therapeutics by 9.0% during the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 502 shares in the last quarter. Alliancebernstein L.P. boosted its position in Sage Therapeutics by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after acquiring an additional 600 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Sage Therapeutics by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 698 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

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.