Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $11.00

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by The Goldman Sachs Group from $19.00 to $11.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Sage Therapeutics from an overweight rating to a neutral rating and cut their price target for the company from $18.00 to $12.00 in a report on Thursday, July 25th. TD Cowen reduced their price target on Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research report on Thursday, April 18th. Baird R W raised Sage Therapeutics to a hold rating in a report on Wednesday, May 29th. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and reduced their price objective for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, 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. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of Hold and a consensus target price of $33.55.

Sage Therapeutics Stock Down 1.6 %

Shares of NASDAQ:SAGE opened at $10.81 on Friday. The company’s 50-day moving average price is $11.28 and its 200 day moving average price is $16.70. The company has a market cap of $650.55 million, a PE ratio of -1.29 and a beta of 0.90. Sage Therapeutics has a fifty-two week low of $9.73 and a fifty-two week high of $37.17.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in Sage Therapeutics in the 1st quarter worth about $127,000. China Universal Asset Management Co. Ltd. lifted its stake in Sage Therapeutics by 353.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 5,406 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Sage Therapeutics in the second quarter worth about $177,000. Virtu Financial LLC acquired a new position in shares of Sage Therapeutics in the first quarter worth about $187,000. Finally, ProShare Advisors LLC increased its position in shares of Sage Therapeutics by 9.0% in the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after acquiring an additional 1,130 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other 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.