HC Wainwright Reaffirms “Neutral” Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $14.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 188.66% from the stock’s current price.

A number of other research firms have also recently commented on SAGE. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Scotiabank decreased their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird lowered their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Finally, Wedbush dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.83.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $4.85 on Wednesday. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26. The company’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $9.13. The company has a market capitalization of $296.69 million, a price-to-earnings ratio of -0.87 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same quarter last year, the business earned ($2.81) EPS. Equities analysts expect that Sage Therapeutics will post -6.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently made changes to their positions in SAGE. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 333,805 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after acquiring an additional 432,013 shares during the period. Virtu Financial LLC bought a new position in shares of Sage Therapeutics during the first quarter worth about $187,000. Bellevue Group AG increased its holdings in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Sage Therapeutics in the 2nd quarter worth about $7,281,000. 99.22% of the stock is owned by 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.