Sage Therapeutics (NASDAQ:SAGE) Receives Neutral Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report published on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research report on Thursday, November 21st. Oppenheimer cut 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 research report on Wednesday, October 30th. Truist Financial decreased their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their price target on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, December 16th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $7.16 on Wednesday. The firm’s 50 day moving average price is $6.34 and its two-hundred day moving average price is $6.93. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $27.39. The stock has a market cap of $437.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last issued 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%. On average, research analysts forecast that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. RTW Investments LP lifted its stake in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the last quarter. State Street Corp raised its holdings in Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the period. Geode Capital Management LLC raised its holdings in Sage Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock worth $6,827,000 after acquiring an additional 14,049 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock worth $2,510,000 after acquiring an additional 10,116 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Sage Therapeutics by 11.3% during the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 18,814 shares during the period. Institutional investors and hedge funds 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.