Sage Therapeutics (NASDAQ:SAGE) Lowered to Neutral at JPMorgan Chase & Co.

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

SAGE has been the subject of several other research reports. The Goldman Sachs Group reduced their price objective 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. Mizuho reduced their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a neutral rating for the company in a research report on Friday, July 19th. StockNews.com raised shares of Sage Therapeutics from a sell rating to a hold rating in a report on Saturday, April 27th. Citigroup initiated coverage on shares of Sage Therapeutics in a report on Wednesday, May 29th. They issued a sell rating and a $8.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics has an average rating of Hold and a consensus target price of $33.55.

Sage Therapeutics Stock Up 5.0 %

Shares of Sage Therapeutics stock opened at $10.99 on Thursday. The company has a market capitalization of $661.40 million, a P/E ratio of -1.31 and a beta of 0.90. Sage Therapeutics has a 52-week low of $9.73 and a 52-week high of $37.17. The company has a 50 day moving average of $11.28 and a 200 day moving average of $16.76.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.46) EPS. As a group, research analysts anticipate that Sage Therapeutics will post -6.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently bought and sold shares of SAGE. Lazard Asset Management LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter worth $127,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 5,406 shares in the last quarter. SG Americas Securities LLC purchased a new position in Sage Therapeutics in the 2nd quarter valued at about $177,000. Virtu Financial LLC purchased a new position in Sage Therapeutics in the 1st quarter valued at about $187,000. Finally, ProShare Advisors LLC lifted its holdings in Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 1,130 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.