Sage Therapeutics (NASDAQ:SAGE) Reaches New 52-Week Low at $10.78

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Free Report)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $10.78 and last traded at $11.43, with a volume of 209078 shares trading hands. The stock had previously closed at $11.93.

Analysts Set New Price Targets

Several research firms recently weighed in on SAGE. HC Wainwright dropped their price target on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Thursday, April 25th. Morgan Stanley increased their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Finally, Truist Financial reduced their price objective on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $35.05.

View Our Latest Analysis on SAGE

Sage Therapeutics Stock Performance

The stock has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $19.63. The stock has a market cap of $680.64 million, a price-to-earnings ratio of -1.35 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The firm had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. The firm’s revenue was up 139.4% on a year-over-year basis. Equities analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its position 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 worth $314,000 after purchasing an additional 698 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after acquiring an additional 1,130 shares in the last quarter. Swiss National Bank raised its position in shares of Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after acquiring an additional 1,200 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Sage Therapeutics by 9.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Sage Therapeutics by 9.4% in the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 1,652 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Company Profile

(Get Free Report)

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.

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