Canaccord Genuity Group Has Lowered Expectations for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its price objective cut by equities researchers at Canaccord Genuity Group from $9.00 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 11.27% from the company’s current price.

A number of other equities research analysts have also recently commented on SAGE. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research note on Thursday, November 21st. Piper Sandler decreased their target price on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Oppenheimer cut their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, TD Cowen lowered their target price on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.88.

Sage Therapeutics Trading Down 1.0 %

Sage Therapeutics stock opened at $7.19 on Wednesday. The company has a market cap of $439.81 million, a PE ratio of -1.29 and a beta of 0.94. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $27.39. The company’s 50-day moving average is $6.28 and its two-hundred day moving average is $6.96.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts forecast that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management raised its holdings 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 shares of Sage Therapeutics during the 4th quarter worth approximately $49,000. Ieq Capital LLC bought a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. boosted its holdings 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 buying an additional 4,672 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Sage Therapeutics in the third quarter valued at $88,000. Institutional investors own 99.22% of the company’s stock.

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.