StockNews.com Lowers Sage Therapeutics (NASDAQ:SAGE) to Sell

StockNews.com downgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a hold rating to a sell rating in a report published on Friday morning.

Several other brokerages have also weighed in on SAGE. Royal Bank of Canada increased their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and lowered their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. Oppenheimer lowered their price objective on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. Finally, TD Cowen lowered their price objective on Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics has a consensus rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Price Performance

SAGE stock opened at $13.33 on Friday. The business has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $20.87. The firm has a market capitalization of $801.27 million, a PE ratio of -1.47 and a beta of 0.86. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue was up 2621.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.47) earnings per share. On average, equities research analysts expect that Sage Therapeutics will post -6.3 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake in shares of Sage Therapeutics by 8.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after acquiring an additional 5,068 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after acquiring an additional 183,607 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after acquiring an additional 111,358 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Sage Therapeutics by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after acquiring an additional 32,306 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Sage Therapeutics by 52.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock valued at $10,326,000 after acquiring an additional 163,400 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

About Sage Therapeutics

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.