Sage Therapeutics (NASDAQ:SAGE) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Sage Therapeutics (NASDAQ:SAGE) from an overweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $12.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $18.00.

SAGE has been the topic of a number of other research reports. Wedbush reaffirmed a neutral rating and issued a $24.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. Scotiabank lowered their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a report on Thursday, April 18th. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and lowered their price target for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. TD Cowen lowered their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, Royal Bank of Canada lowered their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating on the stock in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $33.55.

Sage Therapeutics Stock Up 5.0 %

Sage Therapeutics stock opened at $10.99 on Thursday. Sage Therapeutics has a 52 week low of $9.73 and a 52 week high of $37.17. The company’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $16.76. The stock has a market cap of $661.40 million, a P/E ratio of -1.31 and a beta of 0.90.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same period in the prior year, the business earned ($2.46) EPS. Sage Therapeutics’s quarterly revenue was up 139.4% compared to the same quarter last year. On average, equities analysts anticipate that Sage Therapeutics will post -6.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in shares of Sage Therapeutics during the 4th quarter valued at $2,234,000. Vanguard Group Inc. grew its position in Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Sage Therapeutics by 1,058.4% in the first quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after acquiring an additional 143,075 shares in the last quarter. Finally, abrdn plc purchased a new position in Sage Therapeutics in the fourth quarter worth $1,404,000. 99.22% of the stock is currently owned by hedge funds and other 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.