TD Cowen Issues Pessimistic Forecast for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its target price reduced by TD Cowen from $10.00 to $9.00 in a report published on Thursday,Benzinga reports. TD Cowen currently has a hold rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also commented on the company. Wedbush decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research report on Thursday. The Goldman Sachs Group decreased their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Scotiabank decreased their price objective on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.83.

Sage Therapeutics Trading Up 6.6 %

Shares of SAGE opened at $5.17 on Thursday. The business’s 50-day moving average price is $6.70 and its 200 day moving average price is $9.05. The stock has a market capitalization of $316.25 million, a P/E ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company 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%. During the same period in the prior year, the business posted ($2.81) EPS. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. On average, research analysts predict that Sage Therapeutics will post -6.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its position in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,672 shares during the period. Creative Planning bought a new position in Sage Therapeutics in the 3rd quarter worth approximately $88,000. Lazard Asset Management LLC bought a new position in Sage Therapeutics in the 1st quarter worth approximately $127,000. Finally, Quest Partners LLC increased its position in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares during the period. 99.22% of the stock is owned by institutional investors.

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.