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

Sage Therapeutics (NASDAQ:SAGE) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $14.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $24.00. Bank of America‘s price target would indicate a potential upside of 7.40% from the company’s current price.

SAGE has been the subject of a number of other reports. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. HC Wainwright upped their price objective on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Trading Up 3.7 %

Shares of NASDAQ:SAGE opened at $13.04 on Wednesday. The firm has a 50 day moving average of $20.06 and a 200-day moving average of $20.96. The stock has a market capitalization of $783.53 million, a PE ratio of -1.44 and a beta of 0.86. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

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

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of SAGE. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter valued at $34,000. CWM LLC lifted its position in shares of Sage Therapeutics by 274.2% during 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 acquired a new position in shares of Sage Therapeutics during the 4th quarter valued at $28,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 95.5% during 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. Finally, XTX Topco Ltd acquired a new position in shares of Sage Therapeutics during the 1st quarter valued at $209,000. 99.22% of the stock is owned by institutional investors.

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.