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

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by research analysts at Mizuho from $20.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price target indicates a potential upside of 31.48% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on SAGE. Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Oppenheimer cut their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and an average target price of $37.72.

Sage Therapeutics Price Performance

SAGE stock opened at $13.69 on Friday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The company has a market cap of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86. The firm has a 50-day moving average of $18.56 and a 200 day moving average of $20.64.

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

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Sage Therapeutics by 274.2% in 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 period. China Universal Asset Management Co. Ltd. raised its position in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 1,375 shares during the period. Values First Advisors Inc. bought a new position in Sage Therapeutics in the third quarter worth approximately $219,000. Finally, Quest Partners LLC bought a new position in Sage Therapeutics in the fourth quarter worth approximately $261,000. Hedge funds and other 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.