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

Sage Therapeutics (NASDAQ:SAGE) had its price target lowered by Canaccord Genuity Group from $21.00 to $17.00 in a report issued on Friday, Benzinga reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on SAGE. JPMorgan Chase & Co. raised their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Royal Bank of Canada raised their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. 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. TD Cowen lowered their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Finally, Bank of America lowered shares of 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 research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics currently has an average rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $13.69 on Friday. The company’s fifty day moving average is $18.56 and its 200-day moving average is $20.64. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly 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). Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same quarter last year, the company earned ($2.46) EPS. The business’s revenue for the quarter was up 139.4% compared to the same quarter last year. Analysts expect that Sage Therapeutics will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after acquiring an additional 208,630 shares during the period. Algert Global LLC bought a new position in shares of Sage Therapeutics during the 3rd quarter worth about $1,167,000. Rafferty Asset Management LLC lifted its holdings in shares of 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. Finally, Primecap Management Co. CA lifted its holdings in Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after purchasing an additional 26,250 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

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.