HC Wainwright Reiterates “Neutral” Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reiterated by stock analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 188.66% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Bank of America decreased their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Oppenheimer dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $16.00 to $10.00 in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $4.85 on Wednesday. The business’s 50-day moving average is $6.80 and its two-hundred day moving average is $9.13. The company has a market capitalization of $296.69 million, a P/E ratio of -0.87 and a beta of 0.92. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results 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 return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period last year, the business earned ($2.81) earnings per share. The firm’s revenue was up 337.1% on a year-over-year basis. Analysts forecast that Sage Therapeutics will post -6.48 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds have recently modified their holdings of SAGE. Headlands Technologies LLC lifted its position in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,782 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics during the 1st quarter worth approximately $127,000. Virtu Financial LLC acquired a new stake in Sage Therapeutics in the 1st quarter valued at approximately $187,000. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 66.1% in 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 during the last quarter. Finally, Quest Partners LLC lifted its stake in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares in the last quarter. Hedge funds and other institutional investors 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.