Canaccord Genuity Group Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by investment analysts at Canaccord Genuity Group from $21.00 to $17.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 25.18% from the stock’s previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Morgan Stanley lifted 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 report on Wednesday, February 28th. TD Cowen decreased their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Wedbush reiterated a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.06.

Sage Therapeutics Trading Down 3.0 %

Sage Therapeutics stock opened at $13.58 on Friday. The company has a market capitalization of $816.29 million, a P/E ratio of -1.50 and a beta of 0.86. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99. The firm’s fifty day simple moving average is $18.75 and its 200-day simple moving average is $20.68.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue was up 139.4% compared to the same quarter last year. During the same quarter last year, the business earned ($2.46) EPS. On average, equities research analysts predict that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SAGE. CWM LLC grew its position in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 883 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Sage Therapeutics by 95.5% during 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 buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sage Therapeutics by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 1,375 shares during the period. Values First Advisors Inc. bought a new position in Sage Therapeutics during the third quarter valued at about $219,000. Finally, Quest Partners LLC bought a new position in Sage Therapeutics during the fourth quarter valued at about $261,000. 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.