Sage Therapeutics (NASDAQ:SAGE) Receives Neutral Rating from HC Wainwright

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reissued by analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $28.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 124.36% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada boosted their target price on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $14.00 in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $40.56.

Sage Therapeutics Stock Performance

SAGE traded down $3.15 during midday trading on Wednesday, reaching $12.48. 3,457,761 shares of the company were exchanged, compared to its average volume of 983,745. The company’s fifty day moving average price is $20.47 and its 200 day moving average price is $21.05. The company has a market cap of $750.17 million, a price-to-earnings ratio of -1.38 and a beta of 0.86. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. During the same quarter in the previous year, the business earned ($2.47) EPS. The company’s revenue was up 2621.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SAGE. MetLife Investment Management LLC bought a new position in shares of Sage Therapeutics in the first quarter worth $34,000. CWM LLC increased its holdings in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the period. KBC Group NV bought a new position in shares of Sage Therapeutics in the fourth quarter worth $28,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Sage Therapeutics in the first quarter worth $209,000. 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.