Wedbush Reiterates Neutral Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $24.00 target price on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential upside of 92.31% from the company’s previous close.

Other analysts also recently issued research reports about the stock. HC Wainwright restated a “neutral” rating and set a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $24.00 to $14.00 in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley increased their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. One 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.56.

Sage Therapeutics Trading Down 20.2 %

SAGE stock traded down $3.15 during mid-day trading on Wednesday, reaching $12.48. The company’s stock had a trading volume of 3,457,761 shares, compared to its average volume of 983,745. The stock has a market cap of $750.17 million, a PE ratio of -1.38 and a beta of 0.86. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The company’s 50 day moving average is $20.47 and its two-hundred day moving average is $21.05.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The company had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. Sage Therapeutics’s quarterly revenue was up 2621.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.47) EPS. On average, analysts forecast that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares in the last quarter. Vanguard Group Inc. raised its stake in Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after acquiring an additional 111,358 shares in the last quarter. Fisher Asset Management LLC raised its stake in Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after acquiring an additional 32,306 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Sage Therapeutics by 52.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after acquiring an additional 163,400 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Sage Therapeutics during the 4th quarter worth $1,525,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.