Mizuho Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $18.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by Mizuho from $20.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on SAGE. Wedbush restated a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Canaccord Genuity Group cut their price objective on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday. HC Wainwright reissued a neutral rating and issued a $28.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Morgan Stanley raised their target price on Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a research report on Wednesday, February 28th. Finally, Bank of America lowered shares of Sage Therapeutics from a neutral rating to an underperform rating and reduced their price target for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $37.72.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $14.18 on Friday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The company has a market cap of $853.38 million, a P/E ratio of -1.69 and a beta of 0.86. The stock’s fifty day moving average price is $18.38 and its 200-day moving average price is $20.61.

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). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The company had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same quarter in the prior year, the company posted ($2.46) EPS. Sage Therapeutics’s revenue was up 139.4% on a year-over-year basis. On average, sell-side analysts anticipate that Sage Therapeutics will post -6.49 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently made changes to their positions in SAGE. China Universal Asset Management Co. Ltd. raised its position in shares of Sage Therapeutics by 66.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 4,617 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Sage Therapeutics by 69.6% during the first quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock valued at $5,358,000 after acquiring an additional 117,344 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Sage Therapeutics by 1,058.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock valued at $2,935,000 after acquiring an additional 143,075 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Sage Therapeutics by 8.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after purchasing an additional 5,068 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Hedge funds and other 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.