As Piper Sandler revises its stance on Sage Therapeutics, investors may find additional context in real-time data and insights from InvestingPro. With a market capitalization of approximately $658.99 million, Sage Therapeutics presents a unique profile in the biotech industry. Notably, the company's cash reserves outstrip its debt, suggesting a solid financial footing. However, InvestingPro Tips indicate that Sage is rapidly depleting its cash and analysts have downgraded earnings expectations for the upcoming period, which could signal caution for potential investors.