Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

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

Other equities research analysts have also recently issued research reports about the stock. TD Cowen lowered their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research report on Thursday, April 18th. The Goldman Sachs Group dropped their target price on shares of Sage Therapeutics from $28.00 to $19.00 and set a neutral rating for the company in a research report on Friday, April 26th. Truist Financial reduced their price target on Sage Therapeutics from $22.00 to $18.00 and set a hold rating on the stock in a research 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, StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a research note on Saturday, April 27th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $37.67.

Sage Therapeutics Stock Down 4.7 %

NASDAQ:SAGE opened at $13.28 on Wednesday. The stock’s fifty day moving average price is $18.03 and its two-hundred day moving average price is $20.52. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million for the quarter, compared to analyst estimates 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 revenue was up 139.4% compared to the same quarter last year. During the same period last year, the company earned ($2.46) EPS. Analysts forecast that Sage Therapeutics will post -6.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sage Therapeutics by 17.4% during the third 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 during the last quarter. Values First Advisors Inc. acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $219,000. Finally, Quest Partners LLC bought a new position in shares of Sage Therapeutics in the fourth quarter valued at $261,000. 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.