Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $18.00

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by equities researchers at Mizuho from $20.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price target points to a potential upside of 32.06% from the company’s current price.

Several other brokerages also recently issued reports on SAGE. HC Wainwright restated a “neutral” rating and set a $28.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. Morgan Stanley boosted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Scotiabank cut their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.22.

Sage Therapeutics Trading Up 0.4 %

Shares of NASDAQ SAGE traded up $0.05 during midday trading on Friday, reaching $13.63. 449,650 shares of the company were exchanged, compared to its average volume of 1,021,201. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The stock has a fifty day simple moving average of $18.75 and a 200 day simple moving average of $20.68. The stock has a market cap of $819.30 million, a P/E ratio of -1.50 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly 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). Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. During the same period last year, the firm earned ($2.46) EPS. Sage Therapeutics’s revenue was up 139.4% compared to the same quarter last year. As a group, analysts forecast that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its holdings in shares of Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 698 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in 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 buying an additional 748 shares during the last quarter. CWM LLC grew its position in Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the last quarter. Inspire Investing LLC grew its position in Sage Therapeutics by 8.4% in the 3rd quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Swiss National Bank grew its position in Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors 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.