Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by research analysts at Oppenheimer from $25.00 to $17.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price suggests a potential upside of 35.24% from the company’s current price.

A number of other brokerages have also weighed in on SAGE. TD Cowen lowered their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $24.00 to $14.00 in a report on Wednesday. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.72.

Sage Therapeutics Stock Performance

SAGE opened at $12.57 on Thursday. The business’s 50-day simple moving average is $20.06 and its 200-day simple moving average is $20.96. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The stock has a market capitalization of $755.58 million, a P/E ratio of -1.39 and a beta of 0.86.

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

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently modified their holdings of the stock. MetLife Investment Management LLC bought a new position in shares of Sage Therapeutics during the first quarter worth about $34,000. CWM LLC lifted its holdings in Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 883 shares during the last quarter. KBC Group NV bought a new position in Sage Therapeutics in the fourth quarter worth about $28,000. China Universal Asset Management Co. Ltd. lifted its holdings in 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 worth $32,000 after acquiring an additional 748 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Sage Therapeutics in the first quarter worth about $209,000. 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.