Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by HC Wainwright

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating restated by investment analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $28.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 114.81% from the company’s previous close.

Several other brokerages have also recently issued reports on SAGE. JPMorgan Chase & Co. boosted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $14.00 in a report on Wednesday. Morgan Stanley boosted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Royal Bank of Canada boosted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Finally, StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $39.28.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $13.04 on Wednesday. The stock has a 50-day moving average of $20.06 and a two-hundred day moving average of $20.96. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The stock has a market cap of $783.53 million, a P/E ratio of -1.44 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter in the previous year, the firm posted ($2.47) EPS. The firm’s revenue was up 2621.5% compared to the same quarter last year. Analysts predict that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently bought and sold shares of SAGE. Advisor Group Holdings Inc. increased its stake in Sage Therapeutics by 63.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sage Therapeutics by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock worth $11,672,000 after purchasing an additional 10,134 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter worth approximately $34,000. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after purchasing an additional 46,762 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Sage Therapeutics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock worth $27,958,000 after purchasing an additional 33,218 shares during the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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.