Royal Bank of Canada Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $15.00

Sage Therapeutics (NASDAQ:SAGE) had its price target decreased by analysts at Royal Bank of Canada from $26.00 to $15.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.57% from the stock’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley upped their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Bank of America lowered shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Wedbush restated a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Oppenheimer reduced their target price on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Finally, Mizuho reduced their target price on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Stock Up 0.8 %

Sage Therapeutics stock opened at $13.69 on Friday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The firm’s 50-day simple moving average is $18.56 and its 200 day simple moving average is $20.64. The firm has a market capitalization of $823.86 million, a PE ratio of -1.63 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The business had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same quarter in the prior year, the firm earned ($2.46) earnings per share. Sage Therapeutics’s quarterly revenue was up 139.4% on a year-over-year basis. On average, research analysts expect that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 95.5% during 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. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sage Therapeutics by 17.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 1,375 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Sage Therapeutics during the 3rd quarter worth approximately $219,000. Finally, Quest Partners LLC acquired a new stake in Sage Therapeutics during the 4th quarter worth approximately $261,000. 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.