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

Sage Therapeutics (NASDAQ:SAGE) had its price target reduced by equities research analysts at The Goldman Sachs Group from $28.00 to $19.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 36.89% from the stock’s previous close.

Other research analysts have also issued reports about the company. TD Cowen cut their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Oppenheimer cut 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 report on Thursday, April 18th. Royal Bank of Canada reduced their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, Truist Financial reduced their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $37.89.

Sage Therapeutics Price Performance

NASDAQ:SAGE traded up $0.30 during trading hours on Friday, hitting $13.88. 652,900 shares of the company were exchanged, compared to its average volume of 1,023,929. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99. The stock has a market capitalization of $834.33 million, a price-to-earnings ratio of -1.53 and a beta of 0.86. The company’s 50 day moving average price is $18.75 and its 200-day moving average price is $20.68.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data 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 company had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. The company’s quarterly revenue was up 139.4% on a year-over-year basis. On average, equities analysts predict that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SAGE. RTW Investments LP acquired a new position in Sage Therapeutics during the third quarter worth $105,976,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Sage Therapeutics during the third quarter worth about $8,052,000. Rafferty Asset Management LLC raised its position in shares of Sage Therapeutics by 197.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after purchasing an additional 273,257 shares during the last quarter. Hudson Bay Capital Management LP lifted 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 buying an additional 260,000 shares in the last quarter. Finally, Wellington Management Group LLP lifted 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 buying an additional 208,630 shares in the last quarter. Hedge funds and other 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.