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

Sage Therapeutics (NASDAQ:SAGE) had its price target lowered by equities researchers at Mizuho from $20.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price target would indicate a potential upside of 32.06% from the stock’s previous close.

A number of other research firms have also recently commented on SAGE. Wedbush reissued a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Oppenheimer lowered their target price on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. HC Wainwright reiterated a “neutral” rating and set a $28.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Finally, Scotiabank lowered their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.22.

Sage Therapeutics Price Performance

SAGE stock traded up $0.05 during midday trading on Friday, reaching $13.63. 449,650 shares of the company’s stock traded hands, compared to its average volume of 1,021,201. The company has a market capitalization of $819.30 million, a P/E ratio of -1.50 and a beta of 0.86. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The business has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $20.68.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share 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 analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company’s quarterly revenue was up 139.4% on a year-over-year basis. During the same period last year, the firm earned ($2.46) earnings per share. As a group, research analysts forecast that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after acquiring an additional 208,630 shares during the period. Vanguard Group Inc. boosted its position in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after acquiring an additional 111,358 shares during the period. RTW Investments LP boosted its position in shares of Sage Therapeutics by 0.9% in the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after acquiring an additional 47,537 shares during the period. Palo Alto Investors LP boosted its position in shares of Sage Therapeutics by 17.0% in the third quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock valued at $20,699,000 after acquiring an additional 146,259 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Sage Therapeutics by 8.1% in the fourth 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. Institutional investors and hedge funds own 99.22% of the company’s stock.

About Sage Therapeutics

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.