Sage Therapeutics (NASDAQ:SAGE) Given New $17.00 Price Target at Canaccord Genuity Group

Sage Therapeutics (NASDAQ:SAGE) had its target price trimmed by Canaccord Genuity Group from $21.00 to $17.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Wedbush reiterated a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. HC Wainwright reiterated a neutral rating and issued a $28.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a 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 assigned a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics has a consensus rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Stock Up 0.8 %

NASDAQ SAGE opened at $13.69 on Friday. The firm’s fifty day moving average price is $18.56 and its two-hundred day moving average price is $20.64. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

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

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of 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 last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 last quarter. Values First Advisors Inc. bought a new position in shares of Sage Therapeutics in the third quarter worth about $219,000. Finally, Quest Partners LLC bought a new position in shares of Sage Therapeutics in the fourth quarter worth about $261,000. 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.