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 note released on Thursday morning, Benzinga reports. HC Wainwright currently has a $25.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Truist Financial dropped their price target on Sage Therapeutics from $22.00 to $18.00 and set a hold rating on the stock in a research note on Friday, April 26th. Wedbush reaffirmed a neutral rating and issued a $24.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. Oppenheimer reduced their price objective on Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a research note on Thursday, April 18th. Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and dropped their target price for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group decreased their price target on Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $33.55.

Sage Therapeutics Trading Up 5.0 %

Shares of SAGE stock opened at $10.99 on Thursday. The business’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $16.76. The company has a market cap of $661.40 million, a PE ratio of -1.31 and a beta of 0.90. Sage Therapeutics has a 12-month low of $9.73 and a 12-month high of $37.17.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company’s quarterly revenue was up 139.4% on a year-over-year basis. During the same period in the prior year, the business posted ($2.46) EPS. On average, equities analysts forecast that Sage Therapeutics will post -6.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics in the first quarter valued at about $127,000. China Universal Asset Management Co. Ltd. grew its stake in Sage Therapeutics by 353.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 5,406 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Sage Therapeutics in the 2nd quarter valued at about $177,000. Virtu Financial LLC purchased a new position in Sage Therapeutics in the 1st quarter worth approximately $187,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.