Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $18.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective decreased by stock analysts at Truist Financial from $22.00 to $18.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s target price indicates a potential upside of 31.48% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Scotiabank reduced their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $24.00 to $14.00 in a research note on Wednesday, April 17th. Wedbush restated a “neutral” rating and issued a $24.00 price target on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Thursday. Finally, Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. One investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.72.

Sage Therapeutics Trading Up 0.8 %

NASDAQ:SAGE opened at $13.69 on Friday. The stock has a 50 day simple moving average of $18.56 and a 200 day simple moving average of $20.64. The stock has a market cap of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) 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 the consensus estimate of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The business’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.46) earnings per share. As a group, sell-side analysts forecast that Sage Therapeutics will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in shares of Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 698 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares in the last quarter. CWM LLC increased its holdings in Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares in the last quarter. Inspire Investing LLC increased its holdings in Sage Therapeutics by 8.4% in the 3rd quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 99.22% 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; 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.