JPMorgan Chase & Co. Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $28.00

Sage Therapeutics (NASDAQ:SAGE) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 101.01% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. HC Wainwright dropped their price objective on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Mizuho cut their price target on Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, TD Cowen lowered their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $37.67.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE traded down $0.01 during mid-day trading on Wednesday, hitting $13.93. 139,396 shares of the stock traded hands, compared to its average volume of 1,018,390. The stock has a fifty day moving average price of $18.21 and a 200-day moving average price of $20.57. The company has a market cap of $838.31 million, a price-to-earnings ratio of -1.66 and a beta of 0.86. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

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

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 4,617 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Sage Therapeutics by 69.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after acquiring an additional 117,344 shares during the period. Assenagon Asset Management S.A. raised its holdings in Sage Therapeutics by 1,058.4% during the first quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after purchasing an additional 143,075 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Sage Therapeutics by 8.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after buying an additional 5,068 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after buying an additional 183,607 shares in the last quarter. Institutional investors and hedge funds 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.