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

Sage Therapeutics (NASDAQ:SAGE) had its target price reduced by Oppenheimer from $25.00 to $17.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target indicates a potential upside of 27.53% from the company’s previous close.

A number of other research analysts have also commented on SAGE. Royal Bank of Canada increased their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Morgan Stanley increased their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, TD Cowen cut their price target on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $13.33 on Thursday. The firm has a market cap of $801.23 million, a PE ratio of -1.47 and a beta of 0.86. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The stock’s 50 day simple moving average is $19.85 and its 200 day simple moving average is $20.91.

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

Institutional Trading of Sage Therapeutics

Several hedge funds have recently added to or reduced their stakes in SAGE. CWM LLC raised its stake in shares of Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the period. KBC Group NV acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $28,000. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $32,000 after purchasing an additional 748 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Sage Therapeutics in the 1st quarter valued at about $34,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Sage Therapeutics by 74.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 2,148 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.