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

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by The Goldman Sachs Group from $28.00 to $19.00 in a research report released on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Wedbush reiterated a neutral rating and set a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. TD Cowen decreased their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research note on Thursday, April 18th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research report on Thursday, April 25th. Royal Bank of Canada decreased their price objective 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. Finally, Mizuho dropped their target price on shares of Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Up 3.6 %

NASDAQ:SAGE opened at $14.18 on Friday. The company has a market cap of $853.38 million, a P/E 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. The business has a 50 day moving average price of $18.38 and a two-hundred day moving average price of $20.61.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results 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 56.81% and a negative net margin of 552.52%. The business 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 company posted ($2.46) EPS. The business’s revenue for the quarter was up 139.4% compared to the same quarter last year. As a group, analysts anticipate that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares in the last quarter. Wellington Management Group LLP grew its holdings in Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after buying an additional 208,630 shares in the last quarter. Algert Global LLC bought a new position in Sage Therapeutics during the 3rd quarter valued at $1,167,000. Rafferty Asset Management LLC grew its stake in shares of Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after acquiring an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after buying an additional 26,250 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.