Sage Therapeutics (NASDAQ:SAGE) Given New $56.00 Price Target at Stifel Nicolaus

Posted by Lauren Steadman on Aug 6th, 2022

Sage Therapeutics (NASDAQ:SAGE – Get Rating) had its price target cut by Stifel Nicolaus from $58.00 to $56.00 in a research report released on Tuesday, The Fly reports.

Several other brokerages have also recently weighed in on SAGE. StockNews.com cut shares of Sage Therapeutics from a hold rating to a sell rating in a research note on Tuesday, July 19th. Citigroup upped their price target on shares of Sage Therapeutics to $41.00 in a research report on Friday, June 3rd. SVB Leerink cut their price target on shares of Sage Therapeutics from $50.00 to $40.00 and set a market perform rating on the stock in a research report on Monday, July 11th. The Goldman Sachs Group cut their price target on shares of Sage Therapeutics from $85.00 to $73.00 and set a buy rating on the stock in a research report on Tuesday, May 24th. Finally, Mizuho cut their price target on shares of Sage Therapeutics from $41.00 to $37.00 in a research report on Wednesday, May 4th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $54.47.

Sage Therapeutics Stock Up 9.4 %

Shares of Sage Therapeutics stock opened at $41.95 on Tuesday. Sage Therapeutics has a twelve month low of $27.36 and a twelve month high of $47.75. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.43. The company’s fifty day moving average is $34.75 and its 200 day moving average is $34.94.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.12) by ($0.01). Sage Therapeutics had a negative return on equity of 30.10% and a negative net margin of 8,162.17%. The business had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the firm earned ($1.83) EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Sage Therapeutics will post -8.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in shares of Sage Therapeutics in the 1st quarter worth about $28,000. MetLife Investment Management LLC acquired a new stake in shares of Sage Therapeutics in the 1st quarter worth about $34,000. Nisa Investment Advisors LLC raised its holdings in shares of Sage Therapeutics by 1,629.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,539 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 1,450 shares during the last quarter. US Bancorp DE increased its stake in Sage Therapeutics by 32.5% in the 2nd quarter. US Bancorp DE now owns 1,863 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 457 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Sage Therapeutics in the 4th quarter valued at about $213,000. Institutional investors and hedge funds own 84.40% of the company’s stock.

About Sage Therapeutics

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.