Citigroup Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $40.00

Sage Therapeutics (NASDAQ:SAGEGet Rating) had its target price lowered by Citigroup from $41.00 to $40.00 in a research note released on Wednesday morning, The Fly reports.

A number of other equities analysts have also recently issued reports on SAGE. Mizuho cut their target price on Sage Therapeutics from $41.00 to $37.00 in a report on Wednesday, May 4th. The Goldman Sachs Group cut their target price on Sage Therapeutics from $85.00 to $73.00 and set a buy rating on the stock in a report on Tuesday, May 24th. StockNews.com cut Sage Therapeutics from a hold rating to a sell rating in a report on Tuesday, July 19th. SVB Leerink cut their target price on Sage Therapeutics from $50.00 to $40.00 and set a market perform rating on the stock in a report on Monday, July 11th. Finally, Stifel Nicolaus lowered their price target on Sage Therapeutics from $58.00 to $56.00 in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Sage Therapeutics has an average rating of Hold and a consensus target price of $54.47.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $41.95 on Wednesday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.43. Sage Therapeutics has a 52-week low of $27.36 and a 52-week high of $47.75. The stock’s 50 day moving average price is $34.75 and its two-hundred day moving average price is $34.94.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last issued its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.01). Sage Therapeutics had a negative return on equity of 30.10% and a negative net margin of 8,162.17%. The firm had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the prior year, the business earned ($1.83) earnings per share. Sage Therapeutics’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Sage Therapeutics will post -8.84 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after purchasing an additional 46,762 shares during the last quarter. Bellevue Group AG increased its position in shares of Sage Therapeutics by 0.6% during the 4th quarter. Bellevue Group AG now owns 3,228,004 shares of the biopharmaceutical company’s stock valued at $137,319,000 after purchasing an additional 19,000 shares during the last quarter. State Street Corp increased its position in shares of Sage Therapeutics by 30.8% during the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after purchasing an additional 666,826 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sage Therapeutics by 3.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,613,650 shares of the biopharmaceutical company’s stock valued at $53,412,000 after purchasing an additional 52,028 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Sage Therapeutics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 908,229 shares of the biopharmaceutical company’s stock worth $38,636,000 after acquiring an additional 33,424 shares during the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.

About Sage Therapeutics

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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