Sage Therapeutics (NASDAQ:SAGE) Price Target Lowered to $14.00 at HC Wainwright

Sage Therapeutics (NASDAQ:SAGE) had its price target dropped by stock analysts at HC Wainwright from $25.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 90.74% from the stock’s current price.

Several other research firms have also commented on SAGE. Mizuho dropped their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Wedbush reduced their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada lowered Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $10.00 to $4.00 in a report on Friday, October 4th. The Goldman Sachs Group reduced their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $13.12.

Sage Therapeutics Price Performance

NASDAQ SAGE traded down $1.14 during trading on Wednesday, hitting $7.34. The company’s stock had a trading volume of 321,957 shares, compared to its average volume of 967,658. The business’s 50 day simple moving average is $7.52 and its 200-day simple moving average is $10.00. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26. The company has a market cap of $441.74 million, a PE ratio of -0.93 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same quarter in the previous year, the firm posted ($2.81) earnings per share. The business’s revenue was up 337.1% on a year-over-year basis. Analysts expect that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its position in Sage Therapeutics by 21.7% in the third quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 8,166 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,672 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Sage Therapeutics by 11.3% in the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after purchasing an additional 18,814 shares in the last quarter. Creative Planning bought a new position in shares of Sage Therapeutics in the third quarter valued at about $88,000. Finally, Inspire Investing LLC grew its holdings in Sage Therapeutics by 77.0% during the 3rd quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 25,139 shares during the last quarter. Institutional investors and hedge funds 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.