Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $8.00 at Canaccord Genuity Group

Sage Therapeutics (NASDAQ:SAGE) had its price target trimmed by Canaccord Genuity Group from $9.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank lowered their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Stifel Nicolaus decreased their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, December 16th. Oppenheimer decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.65.

Sage Therapeutics Price Performance

Shares of SAGE opened at $7.14 on Wednesday. The company has a market capitalization of $438.97 million, a price-to-earnings ratio of -1.28 and a beta of 0.94. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $26.25. The business’s 50-day moving average is $6.40 and its 200-day moving average is $6.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Equities research analysts expect that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SAGE. Picton Mahoney Asset Management raised its stake in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Sage Therapeutics during the fourth quarter worth $49,000. Ieq Capital LLC acquired a new position in Sage Therapeutics during the fourth quarter worth $57,000. US Bancorp DE raised its stake in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 2,268 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 2,446 shares in the last quarter. 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.