Wedbush Boosts Sage Therapeutics (NASDAQ:SAGE) Price Target to $22.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lifted by Wedbush from $21.00 to $22.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Sage Therapeutics’ Q4 2023 earnings at ($2.32) EPS, FY2023 earnings at ($10.26) EPS, Q1 2024 earnings at ($1.05) EPS, Q2 2024 earnings at ($2.20) EPS, Q3 2024 earnings at ($2.21) EPS, Q4 2024 earnings at ($2.22) EPS, FY2024 earnings at ($7.67) EPS, FY2025 earnings at ($7.64) EPS, FY2026 earnings at ($4.77) EPS and FY2027 earnings at ($2.19) EPS.

SAGE has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Sage Therapeutics from $25.00 to $22.00 and set a sector perform rating for the company in a research report on Thursday, September 7th. Bank of America cut their price objective on shares of Sage Therapeutics from $25.00 to $24.00 and set a neutral rating on the stock in a research note on Friday, September 8th. Oppenheimer decreased their target price on shares of Sage Therapeutics from $24.00 to $20.00 and set a market perform rating for the company in a research report on Tuesday, August 8th. Stifel Nicolaus lowered Sage Therapeutics from a buy rating to a hold rating and cut their price objective for the company from $60.00 to $22.00 in a report on Monday, August 7th. Finally, TD Cowen cut their price target on shares of Sage Therapeutics from $105.00 to $28.00 and set an outperform rating for the company in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $43.78.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $17.10 on Wednesday. The business’s fifty day moving average price is $19.85 and its two-hundred day moving average price is $34.57. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.56 and a beta of 1.12. Sage Therapeutics has a 1-year low of $16.51 and a 1-year high of $59.99.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Sage Therapeutics by 252.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock worth $35,733,000 after buying an additional 792,819 shares during the last quarter. State Street Corp lifted its stake in shares of Sage Therapeutics by 30.8% in the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after purchasing an additional 666,826 shares during the last quarter. BlackRock Inc. boosted its holdings in Sage Therapeutics by 13.7% in the third quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock worth $188,833,000 after purchasing an additional 580,250 shares in the last quarter. FMR LLC increased its position in Sage Therapeutics by 8.1% during the first quarter. FMR LLC now owns 7,083,533 shares of the biopharmaceutical company’s stock worth $297,225,000 after buying an additional 532,042 shares during the last quarter. Finally, Norges Bank bought a new position in Sage Therapeutics during the fourth quarter valued at about $18,715,000. 89.68% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

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.