Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $16.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective cut by analysts at TD Cowen from $30.00 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price suggests a potential upside of 20.03% from the company’s current price.

Several other research firms have also recently weighed in on SAGE. HC Wainwright restated a “neutral” rating and set a $28.00 target price on shares of Sage Therapeutics in a research note on Wednesday. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada boosted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $13.33 on Thursday. The stock has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $20.91. The stock has a market capitalization of $801.23 million, a PE ratio of -1.47 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 announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($2.47) EPS. Analysts predict that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the period. Wellington Management Group LLP grew its holdings 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 worth $135,257,000 after acquiring an additional 208,630 shares during the period. Algert Global LLC acquired a new position in Sage Therapeutics during the third quarter worth $1,167,000. Rafferty Asset Management LLC grew its holdings in Sage Therapeutics by 197.1% during 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 grew its holdings in Sage Therapeutics by 41.3% during 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. 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.