Sage Therapeutics (NASDAQ:SAGE) Earns “Neutral” Rating from HC Wainwright

by · The Cerbat Gem

Sage Therapeutics (NASDAQ:SAGE – Get Free Report)‘s stock had its “neutral” rating restated by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 192.28% from the company’s previous close.

A number of other research analysts also recently commented on SAGE. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $4.00 in a research report on Friday, October 4th. Robert W. Baird decreased their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Scotiabank cut their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Finally, TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $12.89.

Read Our Latest Report on Sage Therapeutics

Sage Therapeutics Stock Down 2.4 %

Shares of SAGE stock traded down $0.12 during trading hours on Wednesday, reaching $4.79. 803,402 shares of the stock traded hands, compared to its average volume of 965,322. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $28.26. The business has a fifty day moving average price of $6.85 and a 200 day moving average price of $9.16. The firm has a market capitalization of $293.00 million, a PE ratio of -0.86 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same period in the previous year, the firm posted ($2.81) earnings per share. The business’s revenue for the quarter was up 337.1% on a year-over-year basis. Research analysts expect that Sage Therapeutics will post -6.48 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several large investors have recently modified their holdings of SAGE. Bellevue Group AG raised its stake in shares of Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares during the period. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the second quarter valued at approximately $7,281,000. Renaissance Technologies LLC increased its stake in shares of Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after buying an additional 518,296 shares during the period. State Street Corp increased its stake in shares of Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Sage Therapeutics by 831.2% during the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock valued at $5,312,000 after buying an additional 436,566 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Company Profile

(Get Free Report)

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.

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