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

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by TD Cowen from $30.00 to $16.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Wedbush restated a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research note on Tuesday, March 26th. HC Wainwright reiterated a neutral rating and set a $28.00 price objective on shares of Sage Therapeutics in a research note on Wednesday. Bank of America cut Sage Therapeutics from a neutral rating to an underperform rating and cut their target price for the stock from $24.00 to $14.00 in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $39.28.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $13.04 on Thursday. The stock’s 50-day moving average is $20.06 and its 200 day moving average is $20.96. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.73. The firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company’s quarterly revenue was up 2621.5% compared to the same quarter last year. During the same period last year, the company posted ($2.47) EPS. As a group, analysts forecast that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares during the period. Wellington Management Group LLP grew its position in Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares during the period. Algert Global LLC purchased a new stake in Sage Therapeutics during the third quarter valued at approximately $1,167,000. Rafferty Asset Management LLC raised its position in Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after acquiring an additional 273,257 shares during the period. Finally, Primecap Management Co. CA raised its position in Sage Therapeutics by 41.3% in the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after acquiring an additional 26,250 shares during the period. 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.