Sage Therapeutics (NASDAQ:SAGE) Given New $28.00 Price Target at JPMorgan Chase & Co.

Sage Therapeutics (NASDAQ:SAGE) had its target price trimmed by JPMorgan Chase & Co. from $29.00 to $28.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Mizuho cut their price objective on Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a research report on Friday, April 26th. Morgan Stanley increased their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. The Goldman Sachs Group reduced their target price on shares of Sage Therapeutics from $28.00 to $19.00 and set a neutral rating on the stock in a research report on Friday, April 26th. Needham & Company LLC reissued a hold rating on shares of Sage Therapeutics in a report on Thursday, April 25th. Finally, Royal Bank of Canada reduced their price objective on shares of Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics currently has an average rating of Hold and a consensus target price of $37.67.

Sage Therapeutics Stock Performance

SAGE opened at $13.28 on Wednesday. The business has a 50-day moving average of $18.03 and a two-hundred day moving average of $20.52. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. Sage Therapeutics’s revenue was up 139.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.46) EPS. Research analysts predict that Sage Therapeutics will post -6.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Vanguard Group Inc. boosted its position in Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the period. Wellington Management Group LLP grew its position in Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares in the last quarter. Algert Global LLC bought a new stake in shares of Sage Therapeutics during the 3rd quarter worth about $1,167,000. Rafferty Asset Management LLC lifted its stake in shares of Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after acquiring an additional 273,257 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of Sage Therapeutics by 41.3% in the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after acquiring an additional 26,250 shares in the last quarter. 99.22% of the stock is owned by 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.