Royal Bank of Canada Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $15.00

Sage Therapeutics (NASDAQ:SAGE) had its target price lowered by Royal Bank of Canada from $26.00 to $15.00 in a report issued on Friday, Benzinga reports. The firm currently has a sector perform rating on the biopharmaceutical company’s stock.

SAGE has been the topic of a number of other reports. Wedbush reiterated a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Oppenheimer lowered their target price on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a report on Thursday, April 18th. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and cut their price target for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a report on Thursday. Finally, Scotiabank dropped their target price on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of Hold and an average price target of $37.72.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $13.69 on Friday. The firm’s fifty day moving average is $18.56 and its two-hundred day moving average is $20.64. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. During the same quarter last year, the firm earned ($2.46) EPS. The business’s revenue was up 139.4% on a year-over-year basis. As a group, research analysts expect that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently bought and sold shares of SAGE. CWM LLC grew its holdings in Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 1,375 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Sage Therapeutics in the 3rd quarter valued at $219,000. Finally, Quest Partners LLC acquired a new position in shares of Sage Therapeutics during the 4th quarter valued at $261,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.