Sage Therapeutics’ (SAGE) “Neutral” Rating Reaffirmed at HC Wainwright

by · The Markets Daily

HC Wainwright reaffirmed their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE – Free Report) in a report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $25.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Scotiabank dropped their target price on Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on Sage Therapeutics from $12.00 to $10.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. Robert W. Baird dropped their target price on Sage Therapeutics from $13.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their price objective 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 lowered Sage Therapeutics from a buy rating to a hold rating and lowered their price objective for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two 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 an average rating of Hold and a consensus target price of $13.76.

Get Our Latest Stock Analysis on SAGE

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $6.59 on Wednesday. The company has a market cap of $402.32 million, a price-to-earnings ratio of -0.89 and a beta of 0.91. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The stock’s 50-day moving average is $7.68 and its 200-day moving average is $10.90.

Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The company had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business’s quarterly revenue was up 249.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.68) earnings per share. Research analysts anticipate that Sage Therapeutics will post -6.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares during the period. Bellevue Group AG boosted its position in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the period. Federated Hermes Inc. acquired a new position in Sage Therapeutics during the 2nd quarter valued at approximately $7,281,000. Finally, Renaissance Technologies LLC boosted its position in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after purchasing an additional 518,296 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

About Sage Therapeutics

(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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