Sage Therapeutics (NASDAQ:SAGE) PT Raised to $20.00 at Mizuho

Sage Therapeutics (NASDAQ:SAGE) had its price target increased by Mizuho from $19.00 to $20.00 in a report issued on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price target suggests a potential downside of 7.45% from the stock’s previous close.

Several other equities research analysts have also commented on SAGE. Scotiabank increased their price objective on shares of Sage Therapeutics from $24.00 to $27.00 in a research note on Friday, September 1st. Canaccord Genuity Group lowered shares of Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $64.00 to $21.00 in a research note on Tuesday, August 8th. Morgan Stanley decreased their price target on shares of Sage Therapeutics from $49.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. StockNews.com began coverage on shares of Sage Therapeutics in a research note on Sunday, August 20th. They issued a “sell” rating for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 price objective (down from $75.00) on shares of Sage Therapeutics in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.57.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $21.61 on Thursday. Sage Therapeutics has a fifty-two week low of $16.51 and a fifty-two week high of $59.99. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -2.18 and a beta of 1.14. The firm’s 50-day simple moving average is $31.50 and its 200 day simple moving average is $41.92.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($2.55) by ($0.13). Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 49.82%. The business had revenue of $2.47 million during the quarter, compared to the consensus estimate of $2.94 million. During the same period in the previous year, the business posted ($2.13) EPS. Sage Therapeutics’s revenue was up 64.7% compared to the same quarter last year. On average, sell-side analysts predict that Sage Therapeutics will post -8.97 EPS for the current year.

Insider Buying and Selling

In other Sage Therapeutics news, Director Elizabeth Barrett bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average price of $18.64 per share, for a total transaction of $37,280.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $55,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in shares of Sage Therapeutics by 63.6% in the first quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after acquiring an additional 4,432 shares during the period. Bank of New York Mellon Corp increased its position in shares of Sage Therapeutics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after acquiring an additional 10,134 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Sage Therapeutics in the first quarter valued at about $34,000. Vanguard Group Inc. increased its position in shares of Sage Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after acquiring an additional 46,762 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Sage Therapeutics by 4.1% in the first quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after acquiring an additional 33,218 shares during the period. Hedge funds and other institutional investors own 89.68% 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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.