Sage Therapeutics (NASDAQ:SAGE) Stock Rating Lowered by Bank of America

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) was downgraded by equities researchers at Bank of America from a "neutral" rating to an "underperform" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $14.00 target price on the biopharmaceutical company's stock, down from their prior target price of $24.00. Bank of America's target price points to a potential upside of 11.38% from the company's previous close.

A number of other brokerages have also recently weighed in on SAGE. HC Wainwright increased their price target on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. Royal Bank of Canada upped their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Tuesday, March 26th. Morgan Stanley upped their price target on Sage Therapeutics from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 28th. Finally, StockNews.com raised Sage Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.56.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded down $3.06 during trading on Wednesday, reaching $12.57. 4,313,114 shares of the company's stock were exchanged, compared to its average volume of 996,338. The company has a 50 day moving average price of $20.06 and a two-hundred day moving average price of $20.96. The stock has a market cap of $755.58 million, a P/E ratio of -1.39 and a beta of 0.86. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts' consensus estimates of ($1.28) by $0.73. The firm 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%. Sage Therapeutics's quarterly revenue was up 2621.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.47) earnings per share. Research analysts forecast that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Amalgamated Bank raised its holdings in shares of Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company's stock valued at $266,000 after buying an additional 235 shares during the period. Captrust Financial Advisors lifted its position in shares of Sage Therapeutics by 9.0% during the second quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company's stock worth $286,000 after purchasing an additional 502 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Sage Therapeutics by 1.0% in the second quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company's stock valued at $2,873,000 after purchasing an additional 600 shares during the period. Teacher Retirement System of Texas grew its holdings in Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 698 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in 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 worth $32,000 after buying an additional 748 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.