TD Cowen Has Lowered Expectations for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by analysts at TD Cowen from $10.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective would suggest a potential upside of 74.08% from the company’s current price.

A number of other brokerages have also recently issued reports on SAGE. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Truist Financial cut their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a “neutral” rating and issued a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Stock Up 6.6 %

NASDAQ SAGE opened at $5.17 on Thursday. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $28.26. The stock has a market cap of $316.26 million, a P/E ratio of -0.93 and a beta of 0.92. The company’s 50-day simple moving average is $6.75 and its 200 day simple moving average is $9.10.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.81) earnings per share. Research analysts anticipate that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after acquiring an additional 3,757 shares during the last quarter. State Street Corp lifted its stake in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares during the period. RTW Investments LP grew its stake in shares of Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Sage Therapeutics during the third quarter worth $208,000. Finally, Martingale Asset Management L P increased its holdings in Sage Therapeutics by 55.1% in the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 16,717 shares during the last quarter. Institutional investors and hedge funds 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.