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

HC Wainwright restated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $28.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley raised their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Royal Bank of Canada increased 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 report on Thursday, February 15th. Bank of America lowered shares of Sage Therapeutics from a neutral rating to an underperform rating and decreased their price objective for the company from $24.00 to $14.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research report on Tuesday, March 26th. Finally, StockNews.com raised shares of Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $13.33 on Wednesday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The stock has a market cap of $801.23 million, a price-to-earnings ratio of -1.47 and a beta of 0.86. The firm’s 50-day moving average is $19.85 and its two-hundred day moving average is $20.91.

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. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. During the same period last year, the business earned ($2.47) EPS. The company’s revenue was up 2621.5% compared to the same quarter last year. On average, equities analysts expect that Sage Therapeutics will post -6.06 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after purchasing an additional 111,358 shares in the last quarter. RTW Investments LP increased its holdings in shares of 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 purchasing an additional 47,537 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Sage Therapeutics by 0.4% during the 1st quarter. BlackRock Inc. now owns 4,929,786 shares of the biopharmaceutical company’s stock valued at $206,854,000 after purchasing an additional 19,425 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Sage Therapeutics by 0.7% during the 3rd quarter. State Street Corp now owns 2,954,683 shares of the biopharmaceutical company’s stock valued at $115,705,000 after purchasing an additional 20,619 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.