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

HC Wainwright reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $14.00 price objective on the biopharmaceutical company’s stock.

SAGE has been the subject of several other reports. Robert W. Baird lowered their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group reduced their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 target price (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Finally, Truist Financial reduced their target price on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Stock Up 6.6 %

Shares of Sage Therapeutics stock opened at $5.17 on Wednesday. The company has a market cap of $316.25 million, a PE ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26. The business has a 50 day moving average price of $6.70 and a 200-day moving average price of $9.05.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period last year, the company earned ($2.81) earnings per share. As a group, research analysts anticipate that Sage Therapeutics will post -6.5 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SAGE. Headlands Technologies LLC raised its position in shares of Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,672 shares in the last quarter. Creative Planning purchased a new stake in shares of Sage Therapeutics in the third quarter worth $88,000. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics in the first quarter worth $127,000. Finally, Quest Partners LLC raised its position in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares in 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.