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

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

Several other equities research analysts have also recently issued reports on SAGE. TD Cowen decreased their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research report on Thursday, April 18th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research report on Wednesday, July 24th. Scotiabank cut their target price on Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating on the stock in a research report on Thursday, July 25th. StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a research note on Saturday, April 27th. Finally, Bank of America lowered shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their price target for the company from $24.00 to $14.00 in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sage Therapeutics has a consensus rating of Hold and an average target price of $33.55.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $10.81 on Friday. Sage Therapeutics has a 1 year low of $9.73 and a 1 year high of $37.17. The stock has a market capitalization of $650.55 million, a PE ratio of -1.29 and a beta of 0.90. The stock has a 50-day simple moving average of $11.28 and a 200-day simple moving average of $16.70.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics during the first quarter worth approximately $127,000. China Universal Asset Management Co. Ltd. grew its position in Sage Therapeutics by 353.1% in the 4th 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 during the last quarter. SG Americas Securities LLC acquired a new position in Sage Therapeutics in the 2nd quarter valued at $177,000. Virtu Financial LLC purchased a new position in Sage Therapeutics during the 1st quarter worth $187,000. Finally, ProShare Advisors LLC lifted its stake in shares of Sage Therapeutics by 9.0% in the 1st 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 during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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.