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

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Mizuho from $20.00 to $18.00 in a research note issued to investors on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on SAGE. Wedbush restated a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Needham & Company LLC restated a hold rating on shares of Sage Therapeutics in a research note on Thursday. Oppenheimer reduced their price objective on 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. Canaccord Genuity Group dropped their target price on Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a research report on Friday. Finally, StockNews.com lowered shares of Sage Therapeutics from a hold rating to a sell rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Stock Up 0.8 %

Shares of NASDAQ:SAGE 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 stock’s fifty day moving average price is $18.56 and its 200-day moving average price is $20.64.

Sage Therapeutics (NASDAQ:SAGE) last posted its 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). The company had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. Sage Therapeutics’s revenue was up 139.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.46) EPS. On average, analysts forecast that Sage Therapeutics will post -6.3 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its stake in shares of Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 883 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 valued at $32,000 after acquiring an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 period. Values First Advisors Inc. purchased a new stake in shares of Sage Therapeutics during the third quarter worth about $219,000. Finally, Quest Partners LLC bought a new stake in Sage Therapeutics during the 4th quarter valued at approximately $261,000. 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.