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

Sage Therapeutics (NASDAQ:SAGE) had its target price reduced by Scotiabank from $34.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective points to a potential upside of 42.54% from the company’s current price.

SAGE has been the subject of several other research reports. TD Cowen lowered their price target on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada lifted their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Morgan Stanley lifted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Trading Up 2.3 %

Sage Therapeutics stock opened at $13.33 on Thursday. The stock has a market cap of $801.23 million, a PE ratio of -1.47 and a beta of 0.86. The stock has a 50-day moving average price of $19.85 and a 200 day moving average price of $20.91. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

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

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 235 shares in the last quarter. Captrust Financial Advisors lifted its position in Sage Therapeutics by 9.0% during the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock worth $286,000 after acquiring an additional 502 shares in the last quarter. Alliancebernstein L.P. lifted its position in Sage Therapeutics by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock worth $2,873,000 after acquiring an additional 600 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 698 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted 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 acquiring an additional 748 shares in the last quarter. 99.22% of the stock is 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.