Canaccord Genuity Group Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $17.00

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by investment analysts at 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. Canaccord Genuity Group’s price objective indicates a potential upside of 25.18% from the company’s current price.

SAGE has been the subject of several other research reports. Wedbush reissued a “neutral” rating and issued a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. TD Cowen reduced their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Royal Bank of Canada lifted their target price on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.06.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $13.58 on Friday. The stock has a market capitalization of $816.29 million, a price-to-earnings ratio of -1.50 and a beta of 0.86. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The business’s fifty day moving average is $18.75 and its 200-day moving average is $20.68.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The business had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’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 earned ($2.46) earnings per share. Research analysts expect that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently made changes to their positions in SAGE. Assenagon Asset Management S.A. lifted its stake in shares of 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 purchasing an additional 143,075 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Sage Therapeutics by 8.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after acquiring an additional 5,068 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 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 worth $4,358,000 after purchasing an additional 183,607 shares during the period. Vanguard Group Inc. increased its holdings in Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after acquiring an additional 32,306 shares during the period. 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.