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

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $12.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $14.00. HC Wainwright’s price target points to a potential upside of 66.90% from the stock’s previous close.

SAGE has been the subject of several other research reports. Piper Sandler cut their price target on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Truist Financial dropped their price objective on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, December 16th. Finally, Oppenheimer dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Three equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.41.

Sage Therapeutics Trading Down 1.0 %

Shares of NASDAQ SAGE opened at $7.19 on Wednesday. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $27.39. The stock has a 50 day moving average of $6.28 and a two-hundred day moving average of $6.96. The stock has a market cap of $439.81 million, a P/E ratio of -1.29 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 return on equity of 50.29% and a negative net margin of 317.29%. As a group, research analysts predict that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in shares of Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 2,446 shares during the last quarter. Picton Mahoney Asset Management boosted its position in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares during the last quarter. Geode Capital Management LLC boosted its position in Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after acquiring an additional 3,757 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 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.