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

Sage Therapeutics (NASDAQ:SAGEFree Report) had its price objective lowered by JPMorgan Chase & Co. from $29.00 to $28.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on SAGE. Oppenheimer lowered their target price on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Bank of America cut Sage Therapeutics from a neutral rating to an underperform rating and lowered their target price for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. Royal Bank of Canada lowered their target price on 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. Wedbush restated a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group lowered their price objective on Sage Therapeutics from $28.00 to $19.00 and set a neutral rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $37.67.

Get Our Latest Stock Analysis on Sage Therapeutics

Sage Therapeutics Trading Up 6.4 %

NASDAQ SAGE opened at $13.94 on Wednesday. The firm has a market capitalization of $838.91 million, a P/E ratio of -1.66 and a beta of 0.91. The business has a fifty day simple moving average of $17.69 and a 200 day simple moving average of $20.44. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last released its quarterly 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 net margin of 552.52% and a negative return on equity of 56.81%. The company’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.46) earnings per share. As a group, sell-side analysts predict that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SAGE. Vanguard Group Inc. grew its holdings in shares of Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after purchasing an additional 175,565 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Sage Therapeutics by 3.3% during the third 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 in the last quarter. Algert Global LLC purchased a new position in shares of Sage Therapeutics during the third quarter worth about $1,167,000. Rafferty Asset Management LLC grew its holdings in shares of 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 purchasing an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Sage Therapeutics by 41.3% during the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after purchasing an additional 26,250 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.

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