Wedbush Reaffirms Neutral Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $6.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price suggests a potential downside of 17.13% from the stock’s current price.

Several other research analysts have also commented on the company. TD Cowen reduced their price target on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Canaccord Genuity Group reduced their price target on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Scotiabank reduced their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Truist Financial reduced their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Oppenheimer reduced 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. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $9.76.

Sage Therapeutics Stock Up 0.7 %

SAGE traded up $0.05 during trading hours on Wednesday, reaching $7.24. 679,208 shares of the company’s stock traded hands, compared to its average volume of 2,443,339. The firm has a 50-day moving average price of $6.28 and a 200 day moving average price of $6.96. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $27.39. The firm has a market capitalization of $442.87 million, a PE ratio of -1.30 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Equities analysts predict that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several large investors have recently added to or reduced their stakes in SAGE. RTW Investments LP boosted its stake in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the last quarter. State Street Corp boosted its stake in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after buying an additional 451,377 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sage Therapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock worth $2,510,000 after buying an additional 10,116 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Sage Therapeutics by 11.3% in the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after buying an additional 18,814 shares during 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.