Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $18.00 by Analysts at Truist Financial

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by analysts at Truist Financial from $22.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s target price points to a potential upside of 30.72% from the company’s current price.

SAGE has been the subject of a number of other reports. Mizuho reduced their price target on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank of Canada cut their target price on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday. Morgan Stanley boosted 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. Scotiabank cut their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. boosted 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 issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.22.

Sage Therapeutics Stock Up 1.4 %

Sage Therapeutics stock traded up $0.19 during trading hours on Friday, hitting $13.77. The stock had a trading volume of 499,623 shares, compared to its average volume of 1,022,017. The stock’s 50-day moving average price is $18.75 and its 200-day moving average price is $20.68. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99. The stock has a market capitalization of $827.71 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 analysts’ consensus estimates 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 company had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same quarter in the prior year, the firm earned ($2.46) earnings per share. The business’s revenue was up 139.4% compared to the same quarter last year. On average, research analysts expect that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of SAGE. CWM LLC lifted its holdings 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 worth $25,000 after buying an additional 883 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Sage Therapeutics by 11.0% in the third quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 1,847 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Sage Therapeutics by 65.2% in the third quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock worth $716,000 after buying an additional 13,720 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 1,375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 8,561 shares in 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.