TD Cowen Issues Pessimistic Forecast for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its price objective dropped by TD Cowen from $10.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s target price points to a potential upside of 74.08% from the stock’s previous close.

A number of other analysts have also recently issued reports on SAGE. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th. HC Wainwright reissued a “neutral” rating and issued a $14.00 price target on shares of Sage Therapeutics in a research note on Wednesday. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price for the company in a research report on Thursday. Finally, Bank of America cut their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.83.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $5.17 on Thursday. The firm has a market capitalization of $316.26 million, a price-to-earnings ratio of -0.93 and a beta of 0.92. The company has a 50 day simple moving average of $6.75 and a 200-day simple moving average of $9.10. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm’s quarterly revenue was up 337.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.81) EPS. On average, analysts predict that Sage Therapeutics will post -6.48 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several large investors have recently bought and sold shares of SAGE. Vanguard Group Inc. increased its holdings in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the period. RTW Investments LP grew its position in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares in the last quarter. Bellevue Group AG increased its stake in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after acquiring an additional 952,193 shares during the period. State Street Corp increased its stake in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after acquiring an additional 451,377 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after acquiring an additional 3,757 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.