TD Cowen Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $16.00

Sage Therapeutics (NASDAQ:SAGE) had its target price lowered by equities researchers at TD Cowen from $30.00 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price would suggest a potential upside of 27.29% from the company’s previous close.

A number of other research firms have also recently issued reports on SAGE. Royal Bank of Canada raised their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their target price 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. HC Wainwright reissued a “neutral” rating and issued a $28.00 target price on shares of Sage Therapeutics in a report on Wednesday. Wedbush reissued a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday. Finally, StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics has an average rating of “Hold” and an average price target of $39.89.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $12.57 on Thursday. The company has a fifty day moving average price of $20.06 and a two-hundred day moving average price of $20.96. The stock has a market cap of $755.58 million, a P/E ratio of -1.39 and a beta of 0.86. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.73. The company had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. Sage Therapeutics’s quarterly revenue was up 2621.5% compared to the same quarter last year. During the same quarter last year, the company posted ($2.47) EPS. As a group, equities research analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SAGE. Advisor Group Holdings Inc. lifted its position in shares of Sage Therapeutics by 63.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock worth $378,000 after purchasing an additional 4,432 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Sage Therapeutics by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after acquiring an additional 10,134 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter valued at $34,000. Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after acquiring an additional 46,762 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Sage Therapeutics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after acquiring an additional 33,218 shares during the period. Institutional investors and hedge funds 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.