Sage Therapeutics (NASDAQ:SAGE) Cut to Underperform at Bank of America

Sage Therapeutics (NASDAQ:SAGE) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $14.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $24.00. Bank of America‘s price target indicates a potential upside of 12.18% from the company’s previous close.

Several other analysts have also commented on SAGE. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada increased their price target on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. HC Wainwright increased their price target on shares of Sage Therapeutics from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Morgan Stanley increased their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and an average target price of $40.56.

Sage Therapeutics Stock Down 20.2 %

NASDAQ SAGE traded down $3.15 during trading hours on Wednesday, hitting $12.48. 3,457,761 shares of the stock were exchanged, compared to its average volume of 983,745. The company has a market cap of $750.17 million, a price-to-earnings ratio of -1.38 and a beta of 0.86. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99. The stock has a 50-day moving average of $20.47 and a 200 day moving average of $21.05.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same period last year, the company posted ($2.47) earnings per share. The firm’s quarterly revenue was up 2621.5% compared to the same quarter last year. On average, equities research analysts expect that Sage Therapeutics will post -6.06 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently bought and sold shares of the stock. CWM LLC raised its stake in shares of Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares during the period. KBC Group NV purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at $28,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares during the period. MetLife Investment Management LLC purchased a new stake in Sage Therapeutics during the 1st quarter worth $34,000. Finally, Tower Research Capital LLC TRC increased its stake in Sage Therapeutics by 74.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 2,148 shares during the period. Hedge funds and other institutional investors 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.