Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by stock analysts at Canaccord Genuity Group from $21.00 to $17.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 24.18% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. TD Cowen reduced their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Scotiabank dropped their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. HC Wainwright restated a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Finally, Bank of America cut 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 research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.72.

Sage Therapeutics Trading Up 0.8 %

SAGE stock opened at $13.69 on Friday. The company has a market capitalization of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The business has a 50 day simple moving average of $18.56 and a 200-day simple moving average of $20.64.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. Sage Therapeutics’s revenue was up 139.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.46) earnings per share. Research analysts predict that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. Wellington Management Group LLP lifted its stake in shares of Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after purchasing an additional 111,358 shares in the last quarter. RTW Investments LP lifted its stake in shares of Sage Therapeutics by 0.9% in the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after purchasing an additional 47,537 shares in the last quarter. Palo Alto Investors LP lifted its stake in shares of Sage Therapeutics by 17.0% in the 3rd quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock valued at $20,699,000 after purchasing an additional 146,259 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares in the last quarter. Hedge funds and other institutional investors 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.