Wedbush Reaffirms Neutral Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $6.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential downside of 17.13% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial lowered their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday. Finally, TD Cowen lowered their target price on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.76.

Sage Therapeutics Trading Up 0.7 %

Sage Therapeutics stock traded up $0.05 during mid-day trading on Wednesday, hitting $7.24. The company had a trading volume of 679,208 shares, compared to its average volume of 2,443,339. The stock’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.96. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.39. The company has a market capitalization of $442.87 million, a PE ratio of -1.30 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Equities research analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently made changes to their positions in SAGE. State Street Corp grew its position in shares of Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares in the last quarter. RTW Investments LP grew its position in shares of Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sage Therapeutics by 157.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company’s stock valued at $918,000 after buying an additional 103,495 shares during the last quarter. Algert Global LLC boosted its stake in Sage Therapeutics by 120.6% during the third quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,033,000 after buying an additional 78,190 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sage Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock valued at $3,265,000 after buying an additional 43,617 shares during the last quarter. Hedge funds and other 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.