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

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $24.00 price objective on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 92.31% from the company’s previous close.

Several other equities research analysts also recently commented on SAGE. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. HC Wainwright reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday. Royal Bank of Canada lifted their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Morgan Stanley lifted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. 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 company. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of “Hold” and an average price target of $40.56.

Sage Therapeutics Stock Down 20.2 %

SAGE traded down $3.15 during trading on Wednesday, reaching $12.48. 3,457,761 shares of the company’s stock were exchanged, compared to its average volume of 983,745. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The business has a 50 day moving average price of $20.47 and a 200 day moving average price of $21.05. The company has a market capitalization of $750.17 million, a P/E ratio of -1.38 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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 net margin of 626.32% and a negative return on equity of 54.41%. 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 company earned ($2.47) earnings per share. The business’s revenue was up 2621.5% compared to the same quarter last year. As a group, research analysts forecast that Sage Therapeutics will post -6.06 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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 buying an additional 183,607 shares during the period. Vanguard Group Inc. grew its position in shares of 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 buying an additional 111,358 shares during the period. Fisher Asset Management LLC grew its position in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Sage Therapeutics by 52.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock valued at $10,326,000 after purchasing an additional 163,400 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $1,525,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.