Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $25.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on SAGE. Scotiabank cut their target price on shares of Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating for the company in a research note on Thursday, July 25th. Mizuho dropped their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a neutral rating for the company in a research note on Friday, July 19th. Truist Financial dropped their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a hold rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Sage Therapeutics from $12.00 to $10.00 and set a neutral rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada cut shares of Sage Therapeutics from an outperform rating to a sector perform rating and dropped their price objective for the company from $10.00 to $4.00 in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $13.76.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $6.59 on Wednesday. The stock has a market cap of $396.60 million, a P/E ratio of -0.78 and a beta of 0.91. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26. The company has a fifty day moving average price of $7.68 and a 200 day moving average price of $10.85.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The company had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. Sage Therapeutics’s revenue for the quarter was up 249.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.68) earnings per share. As a group, equities research analysts anticipate that Sage Therapeutics will post -6.47 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SAGE. 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 worth $83,684,000 after acquiring an additional 952,193 shares during the last quarter. Federated Hermes Inc. bought a new stake in Sage Therapeutics during the 2nd quarter worth about $7,281,000. Renaissance Technologies LLC grew its holdings in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after acquiring an additional 518,296 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Sage Therapeutics by 831.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the last quarter. Finally, 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 worth $107,781,000 after acquiring an additional 432,013 shares during the last quarter. 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.