Citigroup Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $40.00

Sage Therapeutics (NASDAQ:SAGEGet Rating) had its price objective dropped by research analysts at Citigroup from $41.00 to $40.00 in a research note issued on Wednesday, The Fly reports. Citigroup’s target price points to a potential upside of 4.33% from the stock’s previous close.

SAGE has been the topic of several other reports. SVB Leerink reduced their price target on Sage Therapeutics from $50.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, July 11th. Stifel Nicolaus reduced their price target on Sage Therapeutics from $58.00 to $56.00 in a research report on Tuesday. The Goldman Sachs Group reduced their target price on Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Mizuho reduced their target price on Sage Therapeutics from $41.00 to $37.00 in a report on Wednesday, May 4th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.47.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $38.34 on Wednesday. The stock has a fifty day moving average of $34.56 and a 200-day moving average of $34.93. The stock has a market capitalization of $2.26 billion, a P/E ratio of -4.49 and a beta of 1.43. Sage Therapeutics has a 52 week low of $27.36 and a 52 week high of $47.75.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.12) by ($0.01). Sage Therapeutics had a negative return on equity of 29.13% and a negative net margin of 8,162.17%. The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the prior year, the business earned ($1.83) earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts forecast that Sage Therapeutics will post -8.83 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently modified their holdings of SAGE. State Street Corp lifted its holdings in shares of Sage Therapeutics by 30.8% in the first quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after purchasing an additional 666,826 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Sage Therapeutics by 34.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,561,622 shares of the biopharmaceutical company’s stock valued at $66,433,000 after acquiring an additional 397,001 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Sage Therapeutics by 110.0% in the first quarter. The Manufacturers Life Insurance Company now owns 704,120 shares of the biopharmaceutical company’s stock valued at $23,354,000 after acquiring an additional 368,896 shares during the last quarter. First Trust Advisors LP increased its position in shares of Sage Therapeutics by 37.8% in the fourth quarter. First Trust Advisors LP now owns 811,434 shares of the biopharmaceutical company’s stock valued at $34,518,000 after acquiring an additional 222,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Sage Therapeutics in the second quarter valued at about $5,635,000. 84.40% of the stock is currently owned by institutional investors.

Sage Therapeutics Company Profile

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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