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

Sage Therapeutics (NASDAQ:SAGE) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $12.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $18.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.19% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Oppenheimer cut their target price on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Baird R W upgraded Sage Therapeutics to a “hold” rating in a report on Wednesday, May 29th. Robert W. Baird reiterated a “neutral” rating and issued a $15.00 target price on shares of Sage Therapeutics in a report on Tuesday, June 11th. Wedbush reiterated a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Finally, TD Cowen dropped their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.55.

Sage Therapeutics Stock Up 5.0 %

Shares of SAGE 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 firm has a 50 day moving average of $11.30 and a 200-day moving average of $16.92.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data 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 company had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same period last year, the business earned ($2.46) EPS. The business’s quarterly revenue was up 139.4% compared to the same quarter last year. Research analysts expect that Sage Therapeutics will post -6.56 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after buying an additional 432,013 shares in the last quarter. RTW Investments LP grew its holdings in Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after buying an additional 47,537 shares in the last quarter. Bellevue Group AG grew its holdings in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after buying an additional 32,306 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.