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

HC Wainwright reaffirmed their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report released on Wednesday morning, Benzinga reports. They currently have a $28.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. Morgan Stanley upped their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Bank of America downgraded Sage Therapeutics from a neutral rating to an underperform rating and lowered their price target for the company from $24.00 to $14.00 in a report on Wednesday. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada upped their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $39.28.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $13.33 on Wednesday. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The company has a market cap of $801.23 million, a PE ratio of -1.47 and a beta of 0.86. The business has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $20.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. During the same period in the previous year, the company posted ($2.47) earnings per share. The business’s revenue for the quarter was up 2621.5% on a year-over-year basis. On average, sell-side analysts predict that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after acquiring an additional 175,565 shares during the period. Wellington Management Group LLP raised its stake in shares of Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after purchasing an additional 208,630 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Sage Therapeutics during the third quarter worth approximately $1,167,000. Rafferty Asset Management LLC raised its stake in shares of Sage Therapeutics by 197.1% during the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after purchasing an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Sage Therapeutics by 41.3% during the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after purchasing an additional 26,250 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.