Oppenheimer Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its target price trimmed by Oppenheimer from $9.00 to $8.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a market perform rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on SAGE. The Goldman Sachs Group decreased their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Bank of America decreased their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Wedbush decreased their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.89.

Sage Therapeutics Price Performance

Shares of SAGE opened at $6.05 on Wednesday. The company has a market cap of $370.10 million, a P/E ratio of -1.08 and a beta of 0.91. The stock has a fifty day moving average price of $7.44 and a 200 day moving average price of $9.95. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.81) earnings per share. As a group, research analysts anticipate that Sage Therapeutics will post -6.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAGE. Headlands Technologies LLC raised its stake in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,672 shares in the last quarter. Creative Planning bought a new position in shares of Sage Therapeutics in the 3rd quarter valued at approximately $88,000. Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics in the 1st quarter valued at approximately $127,000. Finally, Quest Partners LLC raised its stake in shares of Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

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.