Sage Therapeutics (NASDAQ:SAGE) Upgraded to “Sector Perform” at Royal Bank of Canada

Sage Therapeutics (NASDAQ:SAGE) was upgraded by research analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $4.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential downside of 18.53% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Bank of America reduced their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Scotiabank dropped their price objective on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $26.00 price target (down previously from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th. Robert W. Baird cut their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sage Therapeutics currently has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $4.91 on Thursday. The stock’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $9.16. The stock has a market capitalization of $300.34 million, a price-to-earnings ratio of -0.88 and a beta of 0.92. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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 business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.81) earnings per share. As a group, analysts anticipate that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently bought and sold shares of SAGE. Headlands Technologies LLC lifted its stake in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 valued at $85,000 after acquiring an additional 4,672 shares during the last quarter. Creative Planning acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at approximately $88,000. Lazard Asset Management LLC acquired a new position in Sage Therapeutics during the first quarter valued at approximately $127,000. Finally, Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares in the last quarter. 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.