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

Sage Therapeutics (NASDAQ:SAGE) had its target price reduced by Truist Financial from $22.00 to $18.00 in a research note issued to investors on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on the stock. Oppenheimer decreased their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Morgan Stanley lifted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Wednesday, February 28th. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and decreased their target price for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. StockNews.com downgraded shares of Sage Therapeutics from a hold rating to a sell rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Trading Up 0.8 %

SAGE opened at $13.69 on Friday. The firm has a 50-day moving average price of $18.56 and a 200-day moving average price of $20.65. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted 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 business had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.46) EPS. Equities research analysts anticipate that Sage Therapeutics will post -6.49 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 2.1% during the 4th 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. RTW Investments LP boosted its holdings in shares of Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after buying an additional 47,537 shares in the last quarter. Palo Alto Investors LP boosted its holdings in shares of Sage Therapeutics by 17.0% during the 3rd quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock valued at $20,699,000 after buying an additional 146,259 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Sage Therapeutics by 8.1% during 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 in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.