Truist Financial Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $18.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Truist Financial from $22.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

SAGE has been the subject of several other reports. Canaccord Genuity Group reduced their target price on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a research report on Friday. Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and cut their price objective for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Morgan Stanley raised their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Royal Bank of Canada dropped their target price 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, HC Wainwright reissued a neutral rating and issued a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Trading Up 3.6 %

SAGE stock opened at $14.18 on Friday. The firm has a 50 day moving average of $18.38 and a 200-day moving average of $20.61. The firm has a market capitalization of $853.38 million, a P/E ratio of -1.69 and a beta of 0.86. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its 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 firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The business’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.46) earnings per share. Sell-side analysts predict that Sage Therapeutics will post -6.49 EPS for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 1,375 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Sage Therapeutics in the third quarter valued at about $219,000. Finally, Quest Partners LLC bought a new position in shares of Sage Therapeutics during the fourth quarter valued at about $261,000. Institutional investors 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.