Sage Therapeutics (NASDAQ:SAGE) PT Lowered to $28.00

Sage Therapeutics (NASDAQ:SAGE) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $29.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 100.86% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Cowen dropped their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Truist Financial reduced their target price on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a report on Friday, April 26th. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Royal Bank of Canada cut their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, April 26th. Finally, Morgan Stanley boosted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.67.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded up $0.83 on Wednesday, reaching $13.94. 895,335 shares of the stock traded hands, compared to its average volume of 1,032,016. The company has a fifty day moving average price of $17.69 and a 200-day moving average price of $20.43. The company has a market cap of $838.91 million, a price-to-earnings ratio of -1.66 and a beta of 0.91. 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) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.46) EPS. As a group, research analysts anticipate that Sage Therapeutics will post -6.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds have recently made changes to their positions in the business. RTW Investments LP purchased a new stake in Sage Therapeutics in the third quarter worth $105,976,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Sage Therapeutics in the third quarter worth about $8,052,000. Rafferty Asset Management LLC increased its stake in Sage Therapeutics by 197.1% during the third 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 last quarter. Hudson Bay Capital Management LP boosted its position in shares of Sage Therapeutics by 1,733.3% during the third quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after buying an additional 260,000 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares during the period. 99.22% of the stock is currently 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.