Sage Therapeutics (NASDAQ:SAGE) Given New $17.00 Price Target at Canaccord Genuity Group

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by Canaccord Genuity Group from $21.00 to $17.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the stock. Scotiabank lowered their price objective 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. Oppenheimer lowered their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a research report on Thursday, April 18th. Needham & Company LLC restated a hold rating on shares of Sage Therapeutics in a research report on Thursday, April 25th. Bank of America cut Sage Therapeutics from a neutral rating to an underperform rating and lowered their target price for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, HC Wainwright reissued a neutral rating and set a $28.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. 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. According to data from MarketBeat, Sage Therapeutics has an average rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Up 3.6 %

Shares of NASDAQ:SAGE opened at $14.18 on Friday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The company has a 50-day moving average price of $18.38 and a 200 day moving average price of $20.61. The company has a market cap of $853.38 million, a P/E ratio of -1.69 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million for 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%. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. Analysts expect that Sage Therapeutics will post -6.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth about $105,976,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Sage Therapeutics during the third quarter valued at about $8,052,000. Rafferty Asset Management LLC lifted its stake in shares of Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after buying an additional 273,257 shares during the period. Hudson Bay Capital Management LP grew its position 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 worth $5,660,000 after buying an additional 260,000 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after acquiring an additional 208,630 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.