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

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by Truist Financial from $22.00 to $18.00 in a research report sent to investors on Friday, Benzinga reports. Truist Financial currently has a hold rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on SAGE. Canaccord Genuity Group decreased their price target on Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a research note on Friday. Scotiabank reduced their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research note on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. TD Cowen reduced their price target 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. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $13.69 on Friday. The firm has a fifty day moving average of $18.56 and a 200-day moving average of $20.64. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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 business had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The business’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same period last year, the company earned ($2.46) EPS. Sell-side analysts expect that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Sage Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after purchasing an additional 175,565 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares in the last quarter. Algert Global LLC bought a new stake in shares of Sage Therapeutics during the 3rd quarter valued at approximately $1,167,000. Rafferty Asset Management LLC increased its position in Sage Therapeutics by 197.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after purchasing an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in Sage Therapeutics by 41.3% in the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after purchasing an additional 26,250 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.