Morgan Stanley Lowers SAGE Therapeutics (SAGE) Price Target to $213.00

Share on StockTwits

SAGE Therapeutics (NASDAQ:SAGE) had its price objective decreased by stock analysts at Morgan Stanley from $230.00 to $213.00 in a research note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target points to a potential upside of 116.13% from the stock’s current price.

Several other research firms have also recently issued reports on SAGE. BidaskClub raised SAGE Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Oppenheimer set a $170.00 target price on SAGE Therapeutics and gave the stock a “buy” rating in a research note on Sunday, November 4th. Canaccord Genuity set a $220.00 target price on SAGE Therapeutics and gave the stock a “buy” rating in a research note on Thursday, November 1st. Cowen reissued a “buy” rating and issued a $207.00 target price on shares of SAGE Therapeutics in a research note on Thursday, November 1st. Finally, LADENBURG THALM/SH SH set a $235.00 target price on SAGE Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $200.58.

NASDAQ SAGE opened at $98.55 on Wednesday. The stock has a market capitalization of $4.75 billion, a P/E ratio of -13.90 and a beta of 2.72. SAGE Therapeutics has a 1 year low of $97.19 and a 1 year high of $195.97.

SAGE Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($2.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.41) by ($0.22). During the same period in the prior year, the company earned ($1.97) earnings per share. On average, analysts predict that SAGE Therapeutics will post -7.75 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. Principal Financial Group Inc. lifted its holdings in SAGE Therapeutics by 3.2% in the first quarter. Principal Financial Group Inc. now owns 12,406 shares of the biopharmaceutical company’s stock worth $1,998,000 after buying an additional 382 shares during the period. Aperio Group LLC purchased a new stake in SAGE Therapeutics in the second quarter worth about $324,000. Raymond James Financial Services Advisors Inc. lifted its holdings in SAGE Therapeutics by 93.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,774 shares of the biopharmaceutical company’s stock worth $747,000 after buying an additional 2,308 shares during the period. Smith Asset Management Group LP lifted its holdings in SAGE Therapeutics by 15.7% in the second quarter. Smith Asset Management Group LP now owns 5,160 shares of the biopharmaceutical company’s stock worth $808,000 after buying an additional 700 shares during the period. Finally, Sei Investments Co. lifted its holdings in SAGE Therapeutics by 225,380.0% in the second quarter. Sei Investments Co. now owns 11,274 shares of the biopharmaceutical company’s stock worth $1,764,000 after buying an additional 11,269 shares during the period.

SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).

See Also: What is the downside to momentum investing?

Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

Receive News & Ratings for SAGE Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SAGE Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply