Sage Therapeutics (NASDAQ:SAGE) Price Target Cut to $14.00 by Analysts at HC Wainwright

Sage Therapeutics (NASDAQ:SAGE) had its target price lowered by HC Wainwright from $25.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 90.74% from the stock’s previous close.

Several other research firms also recently commented on SAGE. Robert W. Baird decreased their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Wedbush lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Finally, Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $10.00 to $4.00 in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.12.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded down $1.14 on Wednesday, reaching $7.34. The company had a trading volume of 321,957 shares, compared to its average volume of 967,658. The company’s fifty day moving average is $7.52 and its 200-day moving average is $10.00. The firm has a market capitalization of $441.74 million, a price-to-earnings ratio of -0.93 and a beta of 0.91. Sage Therapeutics has a 1-year low of $5.84 and a 1-year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period in the prior year, the business posted ($2.81) earnings per share. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. On average, research analysts forecast that Sage Therapeutics will post -6.43 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC boosted its holdings in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the last quarter. Creative Planning bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $88,000. Lazard Asset Management LLC purchased a new position in Sage Therapeutics in the first quarter valued at approximately $127,000. Finally, Quest Partners LLC increased its position in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares during the last quarter. 99.22% of the stock is currently 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.