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

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by investment analysts at TD Cowen from $30.00 to $16.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price target would indicate a potential upside of 27.29% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Wedbush restated a “neutral” rating and set a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $24.00 to $14.00 in a research note on Wednesday. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. increased their price target on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. One investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.89.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $12.57 on Thursday. The company has a market capitalization of $755.58 million, a PE ratio of -1.39 and a beta of 0.86. The business has a fifty day moving average price of $20.06 and a two-hundred day moving average price of $20.96. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The firm had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue for the quarter was up 2621.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.47) EPS. Sell-side analysts anticipate that Sage Therapeutics will post -6.06 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. RTW Investments LP acquired a new stake in Sage Therapeutics during the 3rd quarter worth about $105,976,000. Goldman Sachs Group Inc. raised its stake in shares of Sage Therapeutics by 252.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock valued at $35,733,000 after buying an additional 792,819 shares during the last quarter. State Street Corp raised its stake in shares of Sage Therapeutics by 30.8% during the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after buying an additional 666,826 shares during the last quarter. BlackRock Inc. raised its stake in shares of Sage Therapeutics by 13.7% during the 3rd quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock valued at $188,833,000 after buying an additional 580,250 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Sage Therapeutics by 145.5% during the 3rd quarter. Morgan Stanley now owns 863,932 shares of the biopharmaceutical company’s stock valued at $17,780,000 after buying an additional 512,021 shares during the last quarter. 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.