Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $294.00

Posted by Defense World Staff on Aug 9th, 2023

Sage Therapeutics (NASDAQ:SAGE – Get Free Report) had its price target cut by analysts at Barclays from $311.00 to $294.00 in a research report issued on Monday, FlyOnTheWall reports.

A number of other analysts have also commented on the stock. VNET Group reiterated a “maintains” rating on shares of Sage Therapeutics in a research note on Wednesday, May 3rd. Oppenheimer downgraded shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Bank of America lowered Sage Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $25.00 in a research report on Monday. Finally, Stifel Nicolaus downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $22.00 in a research note on Monday. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.00.

Read Our Latest Report on SAGE

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $18.93 on Monday. The stock has a 50 day moving average price of $46.57 and a 200-day moving average price of $45.85. Sage Therapeutics has a 52-week low of $16.51 and a 52-week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.55) by ($0.13). The business had revenue of $2.47 million for the quarter, compared to analysts’ expectations of $2.94 million. Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 47.13%. Sage Therapeutics’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.13) earnings per share. On average, equities analysts anticipate that Sage Therapeutics will post -8.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in 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 acquiring an additional 792,819 shares in the last quarter. State Street Corp raised its holdings in shares of Sage Therapeutics by 30.8% in the first quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock worth $93,850,000 after buying an additional 666,826 shares during the last quarter. BlackRock Inc. lifted its position in Sage Therapeutics by 13.7% during the 3rd quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock worth $188,833,000 after acquiring an additional 580,250 shares during the period. FMR LLC lifted its holdings in shares of Sage Therapeutics by 8.1% during the first quarter. FMR LLC now owns 7,083,533 shares of the biopharmaceutical company’s stock worth $297,225,000 after purchasing an additional 532,042 shares during the period. Finally, Norges Bank purchased a new stake in shares of Sage Therapeutics in the 4th quarter valued at $18,715,000. 92.97% of the stock is currently owned by institutional investors.

Sage Therapeutics Company Profile

(Get Free Report)

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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.