Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by Wedbush

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $24.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price objective would indicate a potential upside of 84.12% from the stock’s current price.

Several other research analysts have also recently commented on the company. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $24.00 to $14.00 in a research report on Wednesday. HC Wainwright reissued a “neutral” rating and set a $28.00 price target on shares of Sage Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada increased their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Price Performance

SAGE stock opened at $13.04 on Wednesday. The stock has a market capitalization of $783.53 million, a P/E ratio of -1.44 and a beta of 0.86. The business has a 50-day moving average of $20.06 and a 200-day moving average of $20.96. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99.

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

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after purchasing an additional 208,630 shares during the period. Vanguard Group Inc. increased its stake in shares of Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. RTW Investments LP increased its stake in shares of Sage Therapeutics by 0.9% during the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after purchasing an additional 47,537 shares during the period. BlackRock Inc. increased its stake in shares of Sage Therapeutics by 0.4% during the first quarter. BlackRock Inc. now owns 4,929,786 shares of the biopharmaceutical company’s stock worth $206,854,000 after purchasing an additional 19,425 shares during the period. Finally, State Street Corp increased its stake in shares of Sage Therapeutics by 0.7% during the third quarter. State Street Corp now owns 2,954,683 shares of the biopharmaceutical company’s stock worth $115,705,000 after purchasing an additional 20,619 shares during the period. 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.