Mizuho Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $18.00

Sage Therapeutics (NASDAQ:SAGE) had its price target lowered by Mizuho from $20.00 to $18.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on SAGE. StockNews.com cut Sage Therapeutics from a hold rating to a sell rating in a report on Friday, April 19th. Needham & Company LLC reiterated a hold rating on shares of Sage Therapeutics in a report on Thursday. TD Cowen lowered their target price on Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a report on Thursday, April 18th. Morgan Stanley increased their target price on Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, February 28th. Finally, Canaccord Genuity Group decreased their price objective on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday. One investment 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. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of Hold and an average price target of $37.72.

Sage Therapeutics Stock Up 0.8 %

Shares of Sage Therapeutics stock opened at $13.69 on Friday. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99. The stock’s fifty day simple moving average is $18.56 and its 200 day simple moving average is $20.65.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The business’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.46) EPS. As a group, research analysts anticipate that Sage Therapeutics will post -6.49 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 883 shares during the last quarter. SG Americas Securities LLC raised its position 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 valued at $383,000 after buying an additional 1,847 shares in the last quarter. Harbor Capital Advisors Inc. raised its position 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 valued at $716,000 after buying an additional 13,720 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $191,000 after buying an additional 1,375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $815,000 after buying an additional 8,561 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.