Sage Therapeutics (NASDAQ:SAGE) Stock Price Down 4.2%

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s share price dropped 4.2% during trading on Monday . The company traded as low as $13.25 and last traded at $13.35. Approximately 287,430 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,023,275 shares. The stock had previously closed at $13.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SAGE shares. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. Royal Bank of Canada reduced their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Truist Financial lowered their price target on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on Sage Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.67.

Sage Therapeutics Stock Down 4.5 %

The company has a market capitalization of $745.63 million, a price-to-earnings ratio of -1.48 and a beta of 0.91. The company has a 50 day simple moving average of $17.10 and a 200 day simple moving average of $20.32.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same period last year, the firm earned ($2.46) earnings per share. The company’s quarterly revenue was up 139.4% on a year-over-year basis. On average, research analysts forecast that Sage Therapeutics, Inc. will post -6.53 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after buying an additional 175,565 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after purchasing an additional 208,630 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at about $1,167,000. Rafferty Asset Management LLC lifted its position in shares of Sage Therapeutics by 197.1% during the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after purchasing an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA grew its stake in 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 purchasing an additional 26,250 shares in 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.