Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $16.00 by Analysts at TD Cowen

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by equities researchers at TD Cowen from $30.00 to $16.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price target would suggest a potential upside of 20.03% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada lifted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. HC Wainwright restated a “neutral” rating and set a $28.00 price objective on shares of Sage Therapeutics in a report on Wednesday. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $14.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Stock Performance

SAGE stock opened at $13.33 on Thursday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The firm has a market cap of $801.23 million, a P/E ratio of -1.47 and a beta of 0.86. The stock has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $20.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. During the same period in the previous year, the business earned ($2.47) EPS. Sage Therapeutics’s revenue for the quarter was up 2621.5% compared to the same quarter last year. On average, equities research analysts predict that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. Advisor Group Holdings Inc. boosted its position in Sage Therapeutics by 63.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after purchasing an additional 4,432 shares during the period. Bank of New York Mellon Corp boosted its position in Sage Therapeutics by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after purchasing an additional 10,134 shares during the period. MetLife Investment Management LLC acquired a new position in Sage Therapeutics during the 1st quarter valued at approximately $34,000. Vanguard Group Inc. boosted its position in Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after purchasing an additional 46,762 shares during the period. Finally, First Trust Advisors LP boosted its position in Sage Therapeutics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after purchasing an additional 33,218 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

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; 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.