Sage Therapeutics (NASDAQ:SAGE) Rating Reiterated by Wedbush

Wedbush reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report issued on Wednesday morning, Benzinga reports. They currently have a $24.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on the stock. StockNews.com upgraded shares of Sage Therapeutics from a sell rating to a hold rating in a research note on Thursday, February 15th. Morgan Stanley raised their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Royal Bank of Canada raised their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Finally, Bank of America lowered shares of Sage Therapeutics from a neutral rating to an underperform rating and decreased their price target for the stock from $24.00 to $14.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics presently has a consensus rating of Hold and an average target price of $40.56.

Sage Therapeutics Stock Down 19.6 %

SAGE opened at $12.57 on Wednesday. The business’s 50 day moving average is $20.06 and its 200-day moving average is $20.96. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The company had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.47) earnings per share. As a group, equities research analysts forecast that Sage Therapeutics will post -6.06 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in shares of Sage Therapeutics by 3.5% during the 4th quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 235 shares during the period. Captrust Financial Advisors boosted its stake in shares of Sage Therapeutics by 9.0% during the 2nd quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 502 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Sage Therapeutics by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock valued at $2,873,000 after purchasing an additional 600 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Sage Therapeutics by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 698 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds 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.