JPMorgan Chase & Co. Raises Sage Therapeutics (NASDAQ:SAGE) Price Target to $29.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective upped by JPMorgan Chase & Co. from $24.00 to $29.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on SAGE. Stifel Nicolaus reduced their price target on Sage Therapeutics from $22.00 to $20.00 and set a hold rating on the stock in a report on Monday, December 18th. HC Wainwright upped their target price on Sage Therapeutics from $25.00 to $28.00 and gave the company a neutral rating in a report on Thursday, February 15th. StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Sage Therapeutics in a report on Tuesday, December 12th. They issued a hold rating and a $21.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $41.00.

Sage Therapeutics Stock Down 1.6 %

SAGE stock opened at $18.74 on Tuesday. The company has a market cap of $1.13 billion, a PE ratio of -2.07 and a beta of 0.87. The business has a 50-day simple moving average of $22.68 and a 200 day simple moving average of $21.40. Sage Therapeutics has a 52 week low of $16.51 and a 52 week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. Sage Therapeutics’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.47) earnings per share. On average, analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake 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 worth $135,257,000 after purchasing an additional 208,630 shares during the period. Vanguard Group Inc. increased its stake in Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. RTW Investments LP increased its stake in Sage Therapeutics by 0.9% in the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after purchasing an additional 47,537 shares during the period. BlackRock Inc. increased its stake in Sage Therapeutics by 0.4% in the 1st quarter. BlackRock Inc. now owns 4,929,786 shares of the biopharmaceutical company’s stock worth $206,854,000 after purchasing an additional 19,425 shares during the period. Finally, Bellevue Group AG increased its stake in Sage Therapeutics by 0.8% in the 2nd quarter. Bellevue Group AG now owns 3,114,375 shares of the biopharmaceutical company’s stock worth $146,438,000 after purchasing an additional 24,375 shares during the period. Institutional investors own 99.22% of the company’s stock.

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.