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

Sage Therapeutics (NASDAQ:SAGE) had its price target cut by JPMorgan Chase & Co. from $29.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the company. Royal Bank of Canada lowered their target price on Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating for the company in a research note on Friday, April 26th. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and lowered their price objective for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. The Goldman Sachs Group reduced their target price on shares of Sage Therapeutics from $28.00 to $19.00 and set a neutral rating on the stock in a research report on Friday, April 26th. Truist Financial lowered their price target 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. Finally, Scotiabank reduced their price objective on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $37.67.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $13.94 on Wednesday. Sage Therapeutics has a 12 month low of $10.92 and a 12 month high of $59.99. The company’s 50-day moving average price is $17.69 and its two-hundred day moving average price is $20.43.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results 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 the consensus estimate of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business’s revenue was up 139.4% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS. As a group, analysts forecast that Sage Therapeutics will post -6.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its stake in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sage Therapeutics by 17.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Sage Therapeutics in the 3rd quarter valued at approximately $219,000. Finally, Quest Partners LLC bought a new stake in Sage Therapeutics during the 4th quarter worth approximately $261,000. 99.22% of the stock is owned by institutional investors.

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.