JPMorgan Chase & Co. Trims Sage Therapeutics (NASDAQ:SAGE) Target Price to $23.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective trimmed by JPMorgan Chase & Co. from $28.00 to $23.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also commented on SAGE. Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Citigroup started coverage on shares of Sage Therapeutics in a research report on Wednesday, May 29th. They set a sell rating and a $8.00 target price on the stock. StockNews.com upgraded shares of Sage Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 27th. The Goldman Sachs Group dropped 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. Finally, Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their target price for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $34.80.

Sage Therapeutics Price Performance

SAGE opened at $11.13 on Thursday. Sage Therapeutics has a fifty-two week low of $9.76 and a fifty-two week high of $56.37. The firm has a market capitalization of $669.80 million, a price-to-earnings ratio of -1.33 and a beta of 0.91. The company’s 50 day moving average price is $12.16 and its two-hundred day moving average price is $18.57.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The business 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 firm earned ($2.46) earnings per share. The company’s revenue was up 139.4% compared to the same quarter last year. As a group, equities research analysts predict that Sage Therapeutics will post -6.46 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its position in Sage Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares during the period. Swiss National Bank boosted its position in shares of Sage Therapeutics by 1.0% in the third quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock valued at $2,433,000 after acquiring an additional 1,200 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after acquiring an additional 1,480 shares during the period. Inspire Investing LLC boosted its position in shares of Sage Therapeutics by 9.4% in the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 1,652 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sage Therapeutics by 4.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 1,693 shares during the period. 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.