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

Sage Therapeutics (NASDAQ:SAGE) had its target price decreased by research analysts at The Goldman Sachs Group from $28.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 36.89% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial cut their price target on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Friday. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $24.00 price target on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Scotiabank lowered their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. Finally, Oppenheimer reduced their price objective on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $37.89.

Sage Therapeutics Trading Up 2.2 %

Sage Therapeutics stock traded up $0.30 during mid-day trading on Friday, hitting $13.88. The company had a trading volume of 652,900 shares, compared to its average volume of 1,023,929. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99. The company has a market capitalization of $834.33 million, a PE ratio of -1.53 and a beta of 0.86. The stock’s 50 day moving average price is $18.75 and its two-hundred day moving average price is $20.68.

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). Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same period in the prior year, the firm earned ($2.46) EPS. Sage Therapeutics’s revenue for the quarter was up 139.4% compared to the same quarter last year. Equities research analysts anticipate that Sage Therapeutics will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently bought and sold shares of SAGE. RTW Investments LP purchased a new stake in Sage Therapeutics in the third quarter worth about $105,976,000. Jacobs Levy Equity Management Inc. purchased a new stake in Sage Therapeutics in the 3rd quarter worth approximately $8,052,000. Rafferty Asset Management LLC raised its stake 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 acquiring an additional 273,257 shares during the period. Hudson Bay Capital Management LP lifted its holdings in Sage Therapeutics by 1,733.3% during the third quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after purchasing an additional 260,000 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after purchasing an additional 208,630 shares during the period. 99.22% of the stock is owned by 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.