Scotiabank Has Lowered Expectations for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its price target dropped by equities researchers at Scotiabank from $14.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective suggests a potential upside of 67.13% from the company’s previous close.

A number of other equities analysts have also issued reports on SAGE. Oppenheimer decreased their price target on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Truist Financial decreased their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Price Performance

SAGE opened at $7.18 on Wednesday. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.39. The stock has a market cap of $439.20 million, a P/E ratio of -1.29 and a beta of 0.94. The stock’s 50 day moving average price is $6.34 and its 200 day moving average price is $6.93.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate 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%. Equities analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. RTW Investments LP boosted 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 valued at $40,372,000 after purchasing an additional 111,123 shares during the last quarter. State Street Corp boosted its position 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 purchasing an additional 451,377 shares during the last quarter. Geode Capital Management LLC boosted its position in Sage Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock valued at $6,827,000 after purchasing an additional 14,049 shares during the last quarter. Federated Hermes Inc. boosted its position in Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock valued at $6,004,000 after purchasing an additional 430,432 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Sage Therapeutics by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock valued at $2,510,000 after purchasing an additional 10,116 shares during the last quarter. Hedge funds and other institutional investors 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.