Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $18.00 by Analysts at Truist Financial

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by equities researchers at Truist Financial from $22.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s target price points to a potential upside of 30.72% from the company’s previous close.

A number of other research analysts also recently commented on SAGE. Morgan Stanley boosted their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. TD Cowen lowered their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Canaccord Genuity Group lowered their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $38.22.

Sage Therapeutics Trading Up 1.4 %

Shares of NASDAQ SAGE traded up $0.19 during midday trading on Friday, reaching $13.77. The company’s stock had a trading volume of 499,623 shares, compared to its average volume of 1,022,017. The company has a 50 day moving average price of $18.75 and a 200 day moving average price of $20.68. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The company has a market cap of $827.71 million, a price-to-earnings ratio of -1.50 and a beta of 0.86.

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 firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue was up 139.4% on a year-over-year basis. During the same period last year, the business earned ($2.46) earnings per share. Research analysts anticipate that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently bought and sold shares of the stock. CWM LLC raised its stake in shares of Sage Therapeutics by 274.2% in 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. raised its stake in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 1,375 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Sage Therapeutics in the 3rd quarter valued at $219,000. Finally, Quest Partners LLC acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at $261,000. 99.22% of the stock is currently 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.