Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $17.00 at Canaccord Genuity Group

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

Several other analysts also recently commented on SAGE. Wedbush reiterated a neutral rating and set a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Royal Bank of Canada increased their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research report on Thursday, February 15th. StockNews.com lowered Sage Therapeutics from a hold rating to a sell rating in a research report on Friday, April 19th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a report on Thursday, April 25th. Finally, HC Wainwright reiterated a neutral rating and issued a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday, April 17th. One research 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. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of Hold and an average price target of $37.72.

Sage Therapeutics Stock Up 3.6 %

SAGE stock opened at $14.18 on Friday. The business has a 50 day moving average of $18.38 and a 200 day moving average of $20.61. The firm has a market cap of $853.38 million, a PE ratio of -1.69 and a beta of 0.86. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued 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 firm had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company’s quarterly 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, research analysts expect that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SAGE. CWM LLC raised its stake 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 buying an additional 883 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Sage Therapeutics by 95.5% during the 3rd 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sage Therapeutics by 17.4% during the 3rd 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 position in Sage Therapeutics during the third quarter valued at approximately $219,000. Finally, Quest Partners LLC bought a new position in shares of Sage Therapeutics in the fourth quarter worth approximately $261,000. 99.22% of the stock is currently 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.