Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $19.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by The Goldman Sachs Group from $28.00 to $19.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 38.79% from the company’s current price.

Several other analysts also recently weighed in on SAGE. TD Cowen dropped their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Truist Financial dropped their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Stock Up 0.8 %

NASDAQ SAGE opened at $13.69 on Friday. The firm has a market cap of $823.86 million, a PE ratio of -1.63 and a beta of 0.86. The company has a 50 day moving average price of $18.56 and a 200 day moving average price of $20.64. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The firm’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.46) EPS. On average, equities research analysts anticipate that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its holdings in Sage Therapeutics by 69.6% during the first quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after buying an additional 117,344 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Sage Therapeutics by 1,058.4% during the first quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after buying an additional 143,075 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after buying an additional 5,068 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Sage Therapeutics by 1,049.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares during the period. Finally, Vanguard Group Inc. raised its position in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after acquiring an additional 111,358 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.