Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $50.00 by Analysts at Morgan Stanley

Sage Therapeutics (NASDAQ:SAGEGet Rating) had its price objective reduced by Morgan Stanley from $53.00 to $50.00 in a research note issued to investors on Monday morning, Marketbeat reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the company. Guggenheim lowered their price objective on Sage Therapeutics from $55.00 to $48.00 and set a buy rating for the company in a report on Friday, November 11th. HC Wainwright lowered their target price on Sage Therapeutics from $55.00 to $50.00 and set a neutral rating for the company in a report on Wednesday, November 9th. Stifel Nicolaus lowered their target price on Sage Therapeutics from $58.00 to $56.00 in a report on Tuesday, August 2nd. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a report on Saturday, November 19th. Finally, Loop Capital started coverage on Sage Therapeutics in a report on Tuesday, November 1st. They set a hold rating and a $41.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $50.07.

Sage Therapeutics Stock Up 0.8 %

Shares of Sage Therapeutics stock opened at $37.45 on Monday. The firm has a market cap of $2.23 billion, a P/E ratio of -4.34 and a beta of 1.22. Sage Therapeutics has a fifty-two week low of $27.36 and a fifty-two week high of $45.74. The business has a 50-day moving average price of $37.67 and a 200 day moving average price of $36.68.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. State of New Jersey Common Pension Fund D lifted its position in shares of Sage Therapeutics by 8.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 74,242 shares of the biopharmaceutical company’s stock valued at $2,457,000 after acquiring an additional 5,571 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Sage Therapeutics by 63.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after acquiring an additional 4,432 shares during the last quarter. New York State Common Retirement Fund raised its stake in Sage Therapeutics by 5.7% during the 1st quarter. New York State Common Retirement Fund now owns 72,946 shares of the biopharmaceutical company’s stock valued at $2,415,000 after purchasing an additional 3,913 shares during the period. Sector Gamma AS raised its stake in Sage Therapeutics by 19.8% during the 1st quarter. Sector Gamma AS now owns 118,476 shares of the biopharmaceutical company’s stock valued at $3,922,000 after purchasing an additional 19,572 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Sage Therapeutics during the 1st quarter valued at $431,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

About Sage Therapeutics

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, 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.

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Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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