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

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $28.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 124.36% from the stock’s previous close.

SAGE has been the subject of several other reports. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $14.00 in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada increased their price objective 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. Morgan Stanley increased their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Finally, StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.56.

Sage Therapeutics Stock Down 20.2 %

Shares of NASDAQ SAGE traded down $3.15 during mid-day trading on Wednesday, hitting $12.48. 3,457,761 shares of the company traded hands, compared to its average volume of 983,745. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The stock has a market capitalization of $750.17 million, a price-to-earnings ratio of -1.38 and a beta of 0.86. The business has a 50 day moving average of $20.47 and a two-hundred day moving average of $21.05.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the consensus estimate 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 business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. During the same period in the prior year, the business posted ($2.47) earnings per share. Sage Therapeutics’s revenue was up 2621.5% compared to the same quarter last year. As a group, research analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAGE. RTW Investments LP acquired a new position in shares of Sage Therapeutics during the 3rd quarter valued at about $105,976,000. Goldman Sachs Group Inc. increased its holdings in shares of Sage Therapeutics by 252.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock valued at $35,733,000 after acquiring an additional 792,819 shares during the last quarter. State Street Corp increased its holdings in shares of Sage Therapeutics by 30.8% during the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after acquiring an additional 666,826 shares during the last quarter. BlackRock Inc. grew its holdings in Sage Therapeutics by 13.7% in the 3rd quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock valued at $188,833,000 after buying an additional 580,250 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Sage Therapeutics by 145.5% in the 3rd quarter. Morgan Stanley now owns 863,932 shares of the biopharmaceutical company’s stock valued at $17,780,000 after buying an additional 512,021 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.