Sage Therapeutics (NASDAQ:SAGE – Get Free Report) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $22.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $60.00. Stifel Nicolaus’ price target would indicate a potential upside of 16.22% from the stock’s current price.
Several other research firms also recently weighed in on SAGE. Wedbush downgraded Sage Therapeutics from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $51.00 to $22.00 in a research report on Monday. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $71.00 to $25.00 in a research note on Monday. Bank of America lifted their target price on Sage Therapeutics from $61.00 to $66.00 in a research report on Thursday, June 15th. Oppenheimer cut shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Sage Therapeutics in a research note on Monday. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $46.00.
Get Our Latest Analysis on SAGE
Sage Therapeutics Stock Up 13.0 %
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.55) by ($0.13). Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 47.13%. The business had revenue of $2.47 million for the quarter, compared to analysts’ expectations of $2.94 million. During the same quarter last year, the firm earned ($2.13) EPS. The firm’s quarterly revenue was up 64.7% on a year-over-year basis. As a group, research analysts forecast that Sage Therapeutics will post -8.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sage Therapeutics
A number of institutional investors have recently added to or reduced their stakes in SAGE. Goldman Sachs Group Inc. grew its holdings in shares of Sage Therapeutics by 252.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock worth $35,733,000 after buying an additional 792,819 shares in the last quarter. State Street Corp boosted its stake in Sage Therapeutics by 30.8% during the first quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock worth $93,850,000 after buying an additional 666,826 shares during the last quarter. BlackRock Inc. boosted its stake in Sage Therapeutics by 13.7% during the third quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock worth $188,833,000 after buying an additional 580,250 shares during the last quarter. FMR LLC grew its holdings in Sage Therapeutics by 8.1% in the 1st quarter. FMR LLC now owns 7,083,533 shares of the biopharmaceutical company’s stock valued at $297,225,000 after buying an additional 532,042 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sage Therapeutics in the 4th quarter worth $18,715,000. Institutional investors and hedge funds own 92.97% 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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.
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