JPMorgan Chase & Co. Raises Sage Therapeutics (NASDAQ:SAGE) Price Target to $29.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective increased by JPMorgan Chase & Co. from $24.00 to $29.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

SAGE has been the topic of a number of other research reports. Royal Bank of Canada raised their price target on Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Stifel Nicolaus cut their price objective on Sage Therapeutics from $22.00 to $20.00 and set a hold rating for the company in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft began coverage on Sage Therapeutics in a research report on Tuesday, December 12th. They set a hold rating and a $21.00 price objective for the company. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics currently has an average rating of Hold and an average price target of $41.00.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $18.74 on Tuesday. Sage Therapeutics has a 1-year low of $16.51 and a 1-year high of $59.99. The stock has a market cap of $1.13 billion, a PE ratio of -2.07 and a beta of 0.87. The stock’s fifty day moving average is $22.68 and its two-hundred day moving average is $21.40.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. During the same quarter last year, the company posted ($2.47) earnings per share. The business’s quarterly revenue was up 2621.5% compared to the same quarter last year. On average, research analysts expect that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Advisor Group Holdings Inc. lifted its position in shares of Sage Therapeutics by 63.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after acquiring an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Sage Therapeutics by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock worth $11,672,000 after buying an additional 10,134 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth approximately $34,000. Vanguard Group Inc. lifted its position in Sage Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after buying an additional 46,762 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Sage Therapeutics by 4.1% in the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock worth $27,958,000 after buying an additional 33,218 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.