Canaccord Genuity Group Issues Pessimistic Forecast for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its target price reduced by equities researchers at Canaccord Genuity Group from $9.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 11.42% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Scotiabank reduced their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. TD Cowen reduced their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Piper Sandler reduced their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Stock Up 0.3 %

NASDAQ SAGE opened at $7.18 on Wednesday. The stock has a market capitalization of $439.20 million, a PE ratio of -1.29 and a beta of 0.94. The company has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $6.93. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $27.39.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. As a group, equities analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently made changes to their positions in SAGE. State Street Corp raised its stake in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Sage Therapeutics by 63.7% in the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock valued at $6,004,000 after buying an additional 430,432 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at $759,000. RTW Investments LP raised its stake in shares of Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sage Therapeutics by 157.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company’s stock valued at $918,000 after buying an additional 103,495 shares in 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.