Sage Therapeutics (NASDAQ:SAGE) Downgraded to “Underperform” at Bank of America

Bank of America downgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a neutral rating to an underperform rating in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has $14.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $24.00.

Several other equities analysts have also weighed in on the stock. HC Wainwright increased their price objective on shares of Sage Therapeutics from $25.00 to $28.00 and gave the company a neutral rating in a report on Thursday, February 15th. Morgan Stanley increased their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of Sage Therapeutics from a sell rating to a hold rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada increased their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. One 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.com, Sage Therapeutics has an average rating of Hold and a consensus price target of $40.56.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $12.57 on Wednesday. The company’s 50 day simple moving average is $20.06 and its 200 day simple moving average is $20.96. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SAGE. RTW Investments LP bought a new position in Sage Therapeutics in the third quarter valued at $105,976,000. Goldman Sachs Group Inc. grew its position in Sage Therapeutics by 252.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock valued at $35,733,000 after purchasing an additional 792,819 shares in the last quarter. State Street Corp grew its position in Sage Therapeutics by 30.8% in the first quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after purchasing an additional 666,826 shares in the last quarter. BlackRock Inc. grew its position in Sage Therapeutics by 13.7% in the third quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock valued at $188,833,000 after purchasing an additional 580,250 shares in the last quarter. Finally, Morgan Stanley grew its position in Sage Therapeutics by 145.5% in the third quarter. Morgan Stanley now owns 863,932 shares of the biopharmaceutical company’s stock valued at $17,780,000 after purchasing an additional 512,021 shares in the last quarter. 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.