Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $25.00 by Analysts at HC Wainwright

Sage Therapeutics (NASDAQ:SAGE) had its target price dropped by investment analysts at HC Wainwright from $28.00 to $25.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 82.08% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Mizuho lowered their price target on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial reduced their price objective on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Friday. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Oppenheimer reduced their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.72.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE traded up $0.15 during midday trading on Friday, hitting $13.73. The company’s stock had a trading volume of 686,531 shares, compared to its average volume of 1,024,206. The business’s fifty day simple moving average is $18.75 and its two-hundred day simple moving average is $20.68. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The firm has a market capitalization of $825.31 million, a price-to-earnings ratio of -1.53 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same quarter last year, the firm earned ($2.46) EPS. The company’s revenue was up 139.4% on a year-over-year basis. Analysts anticipate that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently bought and sold shares of SAGE. RTW Investments LP acquired a new position in Sage Therapeutics in the 3rd quarter valued at $105,976,000. Jacobs Levy Equity Management Inc. acquired a new stake in Sage Therapeutics in the 3rd quarter valued at about $8,052,000. Rafferty Asset Management LLC grew its stake in Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after acquiring an additional 273,257 shares during the last quarter. Hudson Bay Capital Management LP grew its stake in Sage Therapeutics by 1,733.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after acquiring an additional 260,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Sage Therapeutics by 3.3% in 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 acquiring an additional 208,630 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.