J P Morgan Chase & Co Lowers Sage Therapeutics, Inc. (SAGE) Price Target to $85.00
Sage Therapeutics, Inc. (NASDAQ:SAGE) had its target price cut by research analysts at J P Morgan Chase & Co from $99.00 to $85.00 in a report released on Tuesday. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 20.79% from the stock’s current price.
A number of other brokerages have also issued reports on SAGE. Leerink Swann reaffirmed an “outperform” rating and issued a $97.00 price target (up from $90.00) on shares of Sage Therapeutics in a research note on Tuesday, June 20th. ValuEngine raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus started coverage on Sage Therapeutics in a research note on Wednesday, August 9th. They issued a “buy” rating and a $104.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Sage Therapeutics in a research note on Tuesday, June 13th. Finally, Canaccord Genuity set a $110.00 price target on Sage Therapeutics and gave the stock a “buy” rating in a research note on Saturday, August 5th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Sage Therapeutics has an average rating of “Buy” and an average target price of $84.08.
Shares of Sage Therapeutics (NASDAQ SAGE) opened at 70.37 on Tuesday. Sage Therapeutics has a one year low of $38.30 and a one year high of $90.80. The stock’s 50 day moving average price is $82.79 and its 200 day moving average price is $74.97. The stock’s market capitalization is $2.63 billion.
Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.63) by ($0.25). During the same period in the previous year, the business earned ($1.08) earnings per share. Equities research analysts predict that Sage Therapeutics will post ($7.38) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in SAGE. Teachers Advisors LLC lifted its position in Sage Therapeutics by 15.0% during the fourth quarter. Teachers Advisors LLC now owns 49,296 shares of the biopharmaceutical company’s stock worth $2,517,000 after buying an additional 6,419 shares in the last quarter. Bank of Montreal Can lifted its position in Sage Therapeutics by 7,004.1% during the first quarter. Bank of Montreal Can now owns 12,006 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 11,837 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Sage Therapeutics during the first quarter worth approximately $256,000. Russell Investments Group Ltd. lifted its position in Sage Therapeutics by 82.1% during the first quarter. Russell Investments Group Ltd. now owns 19,679 shares of the biopharmaceutical company’s stock worth $1,399,000 after buying an additional 8,872 shares in the last quarter. Finally, Swiss National Bank lifted its position in Sage Therapeutics by 3.2% during the first quarter. Swiss National Bank now owns 52,100 shares of the biopharmaceutical company’s stock worth $3,703,000 after buying an additional 1,600 shares in the last quarter.
Sage Therapeutics Company Profile
SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.
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