Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $8.00 by Analysts at Oppenheimer

Sage Therapeutics (NASDAQ:SAGE) had its price objective lowered by stock analysts at Oppenheimer from $9.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 31.58% from the company’s current price.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright cut their price objective on Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Robert W. Baird cut their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Finally, Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Stock Down 5.6 %

Shares of NASDAQ:SAGE opened at $6.08 on Wednesday. The business’s 50-day moving average is $7.48 and its 200 day moving average is $9.97. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26.

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

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its position in Sage Therapeutics by 21.7% during the third quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock worth $330,000 after purchasing an additional 8,166 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Sage Therapeutics by 11.3% during the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after purchasing an additional 18,814 shares in the last quarter. Creative Planning purchased a new position in Sage Therapeutics during the third quarter worth approximately $88,000. Finally, Inspire Investing LLC boosted its position in Sage Therapeutics by 77.0% during the third quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 25,139 shares in the last quarter. 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.