Sage Therapeutics (NASDAQ:SAGE) Earns Neutral Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $24.00 price objective on the biopharmaceutical company’s stock. Wedbush also issued estimates for Sage Therapeutics’ Q1 2024 earnings at ($1.92) EPS, Q2 2024 earnings at ($2.00) EPS, Q3 2024 earnings at ($2.01) EPS, Q4 2024 earnings at ($2.05) EPS, FY2024 earnings at ($7.98) EPS, FY2025 earnings at ($7.09) EPS, FY2026 earnings at ($4.51) EPS and FY2027 earnings at ($1.89) EPS.

Several other brokerages also recently commented on SAGE. Royal Bank of Canada upped their target price on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a report on Thursday, February 15th. JPMorgan Chase & Co. upped their target price on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a report on Tuesday, March 26th. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a report on Thursday, February 15th. Morgan Stanley upped their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Finally, Bank of America downgraded Sage Therapeutics from a neutral rating to an underperform rating and reduced their target price for the company from $24.00 to $14.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $39.28.

Sage Therapeutics Stock Up 2.3 %

Shares of Sage Therapeutics stock opened at $13.33 on Wednesday. The firm has a market cap of $801.23 million, a price-to-earnings ratio of -1.47 and a beta of 0.86. The business has a fifty day simple moving average of $19.85 and a 200-day simple moving average of $20.91. 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 announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s revenue was up 2621.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.47) earnings per share. Analysts anticipate that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Sage Therapeutics by 3.3% in the 3rd 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 last quarter. Vanguard Group Inc. increased its position in Sage Therapeutics by 2.1% in the 4th 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 last quarter. RTW Investments LP increased its position in Sage Therapeutics by 0.9% in the 4th 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 last quarter. BlackRock Inc. increased its position in Sage Therapeutics by 0.4% in the 1st 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 last quarter. Finally, State Street Corp increased its position in Sage Therapeutics by 0.7% in the 3rd 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 last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.