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

Sage Therapeutics (NASDAQ:SAGE) had its price objective reduced by JPMorgan Chase & Co. from $29.00 to $28.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price target on Sage Therapeutics from $28.00 to $19.00 and set a neutral rating for the company in a research report on Friday, April 26th. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and cut their price target for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Truist Financial decreased their price objective on shares of Sage Therapeutics from $22.00 to $18.00 and set a hold rating for the company in a report on Friday, April 26th. Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research note on Thursday, April 25th. Finally, Oppenheimer decreased their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $37.67.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $13.94 on Wednesday. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99. The company’s 50 day moving average price is $17.69 and its 200-day moving average price is $20.43.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 552.52% and a negative return on equity of 56.81%. Sage Therapeutics’s revenue was up 139.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.46) EPS. Sell-side analysts anticipate that Sage Therapeutics will post -6.6 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. Wellington Management Group LLP increased its holdings 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 buying an additional 208,630 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after acquiring an additional 111,358 shares during the period. RTW Investments LP raised its holdings in shares of Sage Therapeutics by 0.9% during the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after purchasing an additional 47,537 shares during the last quarter. Palo Alto Investors LP lifted its position in Sage Therapeutics by 17.0% during the third quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock valued at $20,699,000 after purchasing an additional 146,259 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Sage Therapeutics by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

About Sage Therapeutics

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.