HC Wainwright Reiterates “Neutral” Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $25.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 135.40% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. Scotiabank decreased their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. 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 research report on Friday, April 26th. Robert W. Baird restated a “neutral” rating and set a $15.00 price objective on shares of Sage Therapeutics in a research report on Tuesday, June 11th. Finally, TD Cowen decreased their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and an average price target of $34.80.

Sage Therapeutics Stock Down 1.8 %

NASDAQ:SAGE opened at $10.62 on Tuesday. The business’s 50-day moving average price is $11.71 and its 200 day moving average price is $18.02. The firm has a market cap of $639.11 million, a P/E ratio of -1.26 and a beta of 0.90. Sage Therapeutics has a 52-week low of $9.76 and a 52-week high of $49.74.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. During the same quarter last year, the business earned ($2.46) EPS. The company’s revenue for the quarter was up 139.4% compared to the same quarter last year. Sell-side analysts expect that Sage Therapeutics will post -6.48 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. RTW Investments LP bought a new position in shares of Sage Therapeutics in the 3rd quarter valued at approximately $105,976,000. Bellevue Group AG raised its stake in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after acquiring an additional 952,193 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after acquiring an additional 432,013 shares in the last quarter. Baker BROS. Advisors LP bought a new position in shares of Sage Therapeutics in the 1st quarter valued at approximately $7,631,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Sage Therapeutics in the 3rd quarter valued at approximately $8,052,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.