Sage Therapeutics (NASDAQ:SAGE) Downgraded by Piper Sandler to "Hold"

Piper Sandler lowered shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) from a strong-buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat reports. They currently have $8.50 price objective on the biopharmaceutical company's stock, down from their prior price objective of $9.00.

Several other analysts have also recently commented on SAGE. Truist Financial set a $9.00 price objective on shares of Sage Therapeutics and gave the company a "hold" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research report on Monday. HC Wainwright reiterated a "neutral" rating and set a $12.00 price objective on shares of Sage Therapeutics in a research note on Tuesday. Finally, Bank of America initiated coverage on Sage Therapeutics in a report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.93.

Sage Therapeutics Stock Performance

SAGE stock traded up $0.17 during midday trading on Tuesday, reaching $9.30. The stock had a trading volume of 2,600,424 shares, compared to its average volume of 1,285,005. The firm has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $6.98. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $13.47. The stock has a market cap of $582.37 million, a PE ratio of -1.60 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The firm had revenue of $14.06 million during the quarter, compared to analysts' expectations of $14.12 million. During the same quarter in the previous year, the business earned ($1.80) earnings per share. The company's revenue for the quarter was up 78.0% compared to the same quarter last year. On average, sell-side analysts predict that Sage Therapeutics will post -3.52 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. AlphaQuest LLC acquired a new stake in shares of Sage Therapeutics in the first quarter valued at about $32,000. Picton Mahoney Asset Management lifted its stake in Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 3,581 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Sage Therapeutics in the 1st quarter worth about $37,000. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics in the 4th quarter worth about $49,000. Finally, Ieq Capital LLC purchased a new stake in Sage Therapeutics during the 4th quarter worth approximately $57,000. 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.