The Goldman Sachs Group Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $11.00

Sage Therapeutics (NASDAQ:SAGE) had its price target dropped by The Goldman Sachs Group from $19.00 to $11.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 2.61% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group lowered their target price on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered shares of Sage Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $12.00 in a research note on Thursday. Mizuho reduced their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. HC Wainwright restated a “neutral” rating and set a $25.00 price target on shares of Sage Therapeutics in a research report on Thursday. Finally, TD Cowen cut their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Two 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, Sage Therapeutics has an average rating of “Hold” and an average price target of $33.55.

Sage Therapeutics Price Performance

NASDAQ:SAGE traded up $0.25 during mid-day trading on Friday, hitting $10.72. The company’s stock had a trading volume of 193,908 shares, compared to its average volume of 1,107,699. Sage Therapeutics has a 1 year low of $9.73 and a 1 year high of $37.17. The stock has a market cap of $645.13 million, a price-to-earnings ratio of -1.28 and a beta of 0.90. The business’s fifty day moving average is $11.30 and its two-hundred day moving average is $16.92.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same period in the previous year, the company posted ($2.46) earnings per share. Sage Therapeutics’s revenue for the quarter was up 139.4% compared to the same quarter last year. Analysts anticipate that Sage Therapeutics will post -6.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Sage Therapeutics by 20.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock worth $2,376,000 after buying an additional 37,691 shares in the last quarter. Easterly Investment Partners LLC raised its position in Sage Therapeutics by 24.6% in the second quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,483,000 after acquiring an additional 27,000 shares in the last quarter. Values First Advisors Inc. boosted its position in shares of Sage Therapeutics by 62.0% during the 2nd quarter. Values First Advisors Inc. now owns 28,962 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 11,086 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Sage Therapeutics by 6.8% in the second quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock valued at $1,816,000 after purchasing an additional 10,632 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Sage Therapeutics in the second quarter valued at $177,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.