JPMorgan Chase & Co. Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $23.00

Sage Therapeutics (NASDAQ:SAGEFree Report) had its target price lowered by JPMorgan Chase & Co. from $28.00 to $23.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on SAGE. Canaccord Genuity Group cut their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, April 26th. Wedbush reaffirmed a neutral rating and set a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. Scotiabank cut their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. Baird R W raised shares of Sage Therapeutics to a hold rating in a report on Wednesday, May 29th. Finally, Needham & Company LLC reissued a hold rating on shares of Sage Therapeutics in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of Hold and an average target price of $34.80.

Get Our Latest Analysis on SAGE

Sage Therapeutics Trading Up 4.3 %

Sage Therapeutics stock opened at $11.13 on Thursday. The firm has a 50 day moving average of $12.16 and a 200 day moving average of $18.55. The firm has a market capitalization of $669.80 million, a price-to-earnings ratio of -1.33 and a beta of 0.91. Sage Therapeutics has a 12-month low of $9.76 and a 12-month high of $56.37.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm 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 company’s revenue was up 139.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.46) earnings per share. On average, analysts predict that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Swiss National Bank increased its position in shares of Sage Therapeutics by 1.0% during the third quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after purchasing an additional 1,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Sage Therapeutics by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 408,987 shares of the biopharmaceutical company’s stock worth $8,417,000 after purchasing an additional 17,819 shares in the last quarter. UBS Group AG increased its position in shares of Sage Therapeutics by 27.8% during the third quarter. UBS Group AG now owns 102,739 shares of the biopharmaceutical company’s stock worth $2,114,000 after purchasing an additional 22,358 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Sage Therapeutics during the third quarter worth approximately $360,000. Finally, Federated Hermes Inc. purchased a new stake in Sage Therapeutics in the 3rd quarter valued at $3,416,000. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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