Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $16.00 at TD Cowen

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by TD Cowen from $30.00 to $16.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on the stock. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their price objective for the company from $24.00 to $14.00 in a research note on Wednesday. StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. Morgan Stanley upped their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Finally, Wedbush reaffirmed a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $39.28.

Sage Therapeutics Stock Up 3.7 %

Shares of NASDAQ:SAGE opened at $13.04 on Thursday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The business’s 50 day moving average price is $20.06 and its 200-day moving average price is $20.96.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company 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 company posted ($2.47) EPS. The firm’s quarterly revenue was up 2621.5% on a year-over-year basis. As a group, equities research analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several large investors have recently made changes to their positions in SAGE. Hennion & Walsh Asset Management Inc. raised its position in Sage Therapeutics by 8.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after purchasing an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after buying an additional 183,607 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after buying an additional 111,358 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after buying an additional 32,306 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Sage Therapeutics by 52.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after acquiring an additional 163,400 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.