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

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

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

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $13.04 on Wednesday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The stock has a 50 day moving average price of $20.06 and a two-hundred day moving average price of $20.96. The stock has a market capitalization of $783.53 million, a PE ratio of -1.44 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating 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 firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter last year, the firm posted ($2.47) earnings per share. The company’s revenue for the quarter was up 2621.5% compared to the same quarter last year. Research analysts forecast that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after buying an additional 175,565 shares during the period. Wellington Management Group LLP raised its stake in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares during the period. Algert Global LLC bought a new stake in shares of Sage Therapeutics in the third quarter valued at $1,167,000. Rafferty Asset Management LLC raised its stake in shares of Sage Therapeutics by 197.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after purchasing an additional 273,257 shares during the period. Finally, Primecap Management Co. CA raised its stake in shares of Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after purchasing an additional 26,250 shares during the period. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Company Profile

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.