Scotiabank Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $19.00

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by Scotiabank from $34.00 to $19.00 in a research note issued to investors on Thursday, Benzinga reports. Scotiabank currently has a sector outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on SAGE. Bank of America cut Sage Therapeutics from a neutral rating to an underperform rating and lowered their price target for the company from $24.00 to $14.00 in a research report on Wednesday. StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Oppenheimer decreased their target price on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a report on Thursday. Wedbush restated a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of Hold and an average target price of $39.28.

Sage Therapeutics Trading Up 2.3 %

Shares of SAGE stock opened at $13.33 on Thursday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The business’s fifty day moving average is $19.64 and its 200-day moving average is $20.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. During the same period last year, the firm earned ($2.47) EPS. The firm’s revenue for the quarter was up 2621.5% on a year-over-year basis. As a group, sell-side analysts expect that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its position in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. KBC Group NV acquired a new stake in shares of Sage Therapeutics in the fourth quarter worth about $28,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Sage Therapeutics in the first quarter worth about $34,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Sage Therapeutics by 74.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 2,148 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.