Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $12.00 at Scotiabank

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by stock analysts at Scotiabank from $14.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price would indicate a potential upside of 67.13% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SAGE. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday. Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research note on Thursday, November 21st. Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, Oppenheimer dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.65.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $7.18 on Wednesday. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $27.39. The business has a 50-day moving average of $6.34 and a two-hundred day moving average of $6.93. The stock has a market capitalization of $439.20 million, a P/E ratio of -1.29 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. As a group, research analysts expect that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC raised its holdings in shares of Sage Therapeutics by 77.0% in the 3rd quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after buying an additional 25,139 shares in the last quarter. Creative Planning acquired a new position in shares of Sage Therapeutics in the 3rd quarter worth approximately $88,000. Assenagon Asset Management S.A. raised its holdings in shares of Sage Therapeutics by 11.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after buying an additional 18,814 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,672 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Sage Therapeutics by 21.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 8,166 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.