Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $17.00 by Analysts at Oppenheimer

Sage Therapeutics (NASDAQ:SAGE) had its price objective cut by Oppenheimer from $25.00 to $17.00 in a report published on Thursday, Benzinga reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Wedbush reissued a neutral rating and set a $24.00 price target on shares of Sage Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Morgan Stanley upped their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and lowered their target price for the company from $24.00 to $14.00 in a research note on Wednesday. Finally, TD Cowen lowered their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Price Performance

SAGE opened at $13.04 on Thursday. The firm has a 50 day simple moving average of $20.06 and a 200 day simple moving average of $20.96. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99.

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

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new position in Sage Therapeutics during the first quarter worth approximately $34,000. CWM LLC grew its position in shares of Sage Therapeutics by 274.2% in the third 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 last quarter. KBC Group NV acquired a new position in shares of Sage Therapeutics in the fourth quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. grew its position in shares of Sage Therapeutics by 95.5% in the third 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 last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Sage Therapeutics in the first quarter valued at approximately $209,000. 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.