Stifel Nicolaus Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $6.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by Stifel Nicolaus from $10.00 to $6.00 in a report released on Monday morning,Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Oppenheimer dropped their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Truist Financial lowered their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.53.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $5.03 on Monday. The firm’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $8.26. The company has a market cap of $307.70 million, a P/E ratio of -0.90 and a beta of 0.87. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results 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 firm had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business’s revenue was up 337.1% on a year-over-year basis. During the same period last year, the business earned ($2.81) earnings per share. On average, analysts expect that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. SG Americas Securities LLC acquired a new stake in shares of Sage Therapeutics in the second quarter worth $177,000. Assenagon Asset Management S.A. increased its position in Sage Therapeutics by 6.8% during the second quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock worth $1,816,000 after acquiring an additional 10,632 shares during the period. Easterly Investment Partners LLC increased its position in Sage Therapeutics by 24.6% during the second quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,483,000 after acquiring an additional 27,000 shares during the period. Bank of New York Mellon Corp increased its position in Sage Therapeutics by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock worth $2,376,000 after acquiring an additional 37,691 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in Sage Therapeutics by 2.6% during the second quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock worth $3,185,000 after acquiring an additional 7,334 shares during the period. 99.22% 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; 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.