Sage Therapeutics’ (SAGE) Neutral Rating Reiterated at HC Wainwright

HC Wainwright restated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report issued on Wednesday morning,Benzinga reports. HC Wainwright currently has a $12.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $14.00.

Several other brokerages have also recently weighed in on SAGE. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a research note on Thursday, November 21st. Stifel Nicolaus lowered their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Truist Financial lowered their price objective on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, Oppenheimer reduced their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.65.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $7.14 on Wednesday. Sage Therapeutics has a one year low of $4.62 and a one year high of $26.25. The stock has a fifty day moving average of $6.40 and a 200 day moving average of $6.91. The stock has a market cap of $438.97 million, a PE ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly 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 net margin of 317.29% and a negative return on equity of 50.29%. As a group, sell-side analysts predict that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds have recently made changes to their positions in the company. RTW Investments LP grew its holdings in Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares in the last quarter. Caligan Partners LP bought a new position in shares of Sage Therapeutics during the 4th quarter valued at approximately $16,575,000. State Street Corp grew its holdings in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Sage Therapeutics in the fourth quarter worth $7,540,000. Finally, Geode Capital Management LLC increased its position in Sage Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock worth $6,827,000 after purchasing an additional 14,049 shares during the last quarter. 99.22% of the stock is currently 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.