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

Sage Therapeutics (NASDAQ:SAGE) had its price target lowered 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 research analysts have also recently commented on SAGE. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research report on Thursday. Oppenheimer decreased their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a research note on Thursday. HC Wainwright reiterated a neutral rating and issued a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday. TD Cowen decreased their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics has an average rating of Hold and an average target price of $39.28.

Sage Therapeutics Stock Up 3.7 %

SAGE stock opened at $13.04 on Thursday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The firm’s fifty day moving average is $20.06 and its 200 day moving average is $20.96.

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

Institutional Trading of Sage Therapeutics

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after buying an additional 208,630 shares during the last quarter. Algert Global LLC purchased a new position in shares of Sage Therapeutics in the third quarter worth approximately $1,167,000. Rafferty Asset Management LLC boosted its holdings in shares of Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after buying an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Sage Therapeutics by 41.3% in the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after buying an additional 26,250 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.