Sage Therapeutics (NASDAQ:SAGE) Given New $18.00 Price Target at Truist Financial

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by Truist Financial from $22.00 to $18.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on SAGE. Scotiabank decreased their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. StockNews.com downgraded Sage Therapeutics from a hold rating to a sell rating in a research note on Friday, April 19th. Wedbush reissued a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Bank of America cut Sage Therapeutics from a neutral rating to an underperform rating and decreased their target price for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $37.72.

Sage Therapeutics Price Performance

SAGE stock opened at $13.69 on Friday. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99. The business has a fifty day moving average of $18.56 and a two-hundred day moving average of $20.64.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The company’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.46) earnings per share. Sell-side analysts forecast that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Sage Therapeutics by 3.5% during the 3rd 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 last quarter. Wellington Management Group LLP boosted its stake in Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after purchasing an additional 208,630 shares in the last quarter. Algert Global LLC bought a new stake in shares of Sage Therapeutics during the third quarter worth $1,167,000. Rafferty Asset Management LLC increased its stake in shares of Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after buying an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of Sage Therapeutics by 41.3% in the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after buying an additional 26,250 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

About Sage Therapeutics

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.