Sage Therapeutics (NASDAQ:SAGE – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Several other equities research analysts have also commented on SAGE. Wedbush lowered shares of Sage Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $51.00 to $22.00 in a report on Monday, August 7th. VNET Group restated a “maintains” rating on shares of Sage Therapeutics in a report on Wednesday, May 3rd. Needham & Company LLC downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $60.00 to $22.00 in a research report on Monday, August 7th. Finally, Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $71.00 to $25.00 in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.55.
Read Our Latest Report on Sage Therapeutics
Sage Therapeutics Price Performance
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.55) by ($0.13). Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 49.82%. The company had revenue of $2.47 million for the quarter, compared to the consensus estimate of $2.94 million. During the same quarter in the previous year, the business earned ($2.13) EPS. The company’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, equities analysts anticipate that Sage Therapeutics will post -8.94 earnings per share for the current fiscal year.
Insider Buying and Selling at Sage Therapeutics
In other Sage Therapeutics news, Director Elizabeth Barrett acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $18.64 per share, for a total transaction of $37,280.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $55,920. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.
Institutional Trading of Sage Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its stake in shares of 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 purchasing an additional 532,042 shares during the period. Wellington Management Group LLP lifted its stake in shares of Sage Therapeutics by 3.6% in the 1st quarter. Wellington Management Group LLP now owns 5,714,423 shares of the biopharmaceutical company’s stock valued at $239,777,000 after purchasing an additional 198,287 shares during the period. BlackRock Inc. lifted its stake in shares of Sage Therapeutics by 0.4% in the 1st quarter. BlackRock Inc. now owns 4,929,786 shares of the biopharmaceutical company’s stock valued at $206,854,000 after purchasing an additional 19,425 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sage Therapeutics by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,787,865 shares of the biopharmaceutical company’s stock valued at $187,492,000 after purchasing an additional 45,026 shares during the period. Finally, State Street Corp lifted its stake in shares of Sage Therapeutics by 0.7% in the 3rd quarter. State Street Corp now owns 2,954,683 shares of the biopharmaceutical company’s stock valued at $115,705,000 after purchasing an additional 20,619 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.
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; 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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