Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $17.00 by Analysts at Oppenheimer

Sage Therapeutics (NASDAQ:SAGE) had its price objective cut by Oppenheimer from $25.00 to $17.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and reduced their target price for the company from $24.00 to $14.00 in a research note on Wednesday. Royal Bank of Canada upped their target price on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC reissued a hold rating on shares of Sage Therapeutics in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $39.28.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $13.04 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 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. During the same quarter in the prior year, the company earned ($2.47) EPS. Sage Therapeutics’s revenue was up 2621.5% on a year-over-year basis. Equities research analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 235 shares during the last quarter. Captrust Financial Advisors increased its holdings in Sage Therapeutics by 9.0% in the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 502 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Sage Therapeutics by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after purchasing an additional 600 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Sage Therapeutics by 4.8% in 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. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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 purchasing an additional 748 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.