HC Wainwright Lowers Sage Therapeutics (NASDAQ:SAGE) Price Target to $14.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective dropped by research analysts at HC Wainwright from $25.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 130.26% from the company’s current price. HC Wainwright also issued estimates for Sage Therapeutics’ FY2028 earnings at $0.50 EPS.

Other analysts have also issued research reports about the company. Royal Bank of Canada lowered Sage Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $10.00 to $4.00 in a research report on Friday, October 4th. Robert W. Baird decreased their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America dropped their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Finally, Wedbush dropped their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $6.08 on Wednesday. Sage Therapeutics has a 12-month low of $5.84 and a 12-month high of $28.26. The business has a 50-day moving average price of $7.48 and a 200 day moving average price of $9.97.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.81) earnings per share. Equities analysts predict that Sage Therapeutics will post -6.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its stake in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 4,672 shares in the last quarter. Creative Planning purchased a new position in shares of Sage Therapeutics in the 3rd quarter valued at $88,000. Lazard Asset Management LLC acquired a new stake in Sage Therapeutics during the 1st quarter worth $127,000. Finally, Quest Partners LLC lifted its position in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 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.