Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $19.00 at The Goldman Sachs Group

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by The Goldman Sachs Group from $28.00 to $19.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their target price for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. 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. Mizuho dropped their target price on shares of Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a research report on Friday. Wedbush reissued a neutral rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Trading Up 0.8 %

NASDAQ SAGE opened at $13.69 on Friday. 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. As a group, equities analysts forecast that Sage Therapeutics will post -6.3 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after buying an additional 208,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 buying an additional 111,358 shares in the last quarter. RTW Investments LP boosted its holdings in Sage Therapeutics by 0.9% during the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after buying an additional 47,537 shares in the last quarter. Palo Alto Investors LP raised its position in Sage Therapeutics by 17.0% during the third quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock worth $20,699,000 after acquiring an additional 146,259 shares during the period. Finally, Fisher Asset Management LLC raised its position in Sage Therapeutics by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after acquiring an additional 32,306 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.