HC Wainwright Reaffirms “Neutral” Rating for Sage Therapeutics (NASDAQ:SAGE)

HC Wainwright reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report released on Tuesday morning, Benzinga reports. They currently have a $25.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on SAGE. Scotiabank lowered their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. Royal Bank of Canada lowered their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating for the company in a report on Friday, April 26th. Oppenheimer lowered their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a report on Thursday, April 18th. Wedbush reissued a neutral rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Finally, Mizuho reduced their price objective on shares of Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $34.80.

Sage Therapeutics Price Performance

Shares of SAGE opened at $10.62 on Tuesday. Sage Therapeutics has a one year low of $9.76 and a one year high of $49.74. The company has a market cap of $639.11 million, a P/E ratio of -1.26 and a beta of 0.90. The firm has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $17.97.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter last year, the company posted ($2.46) earnings per share. On average, analysts expect that Sage Therapeutics will post -6.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics during the 1st quarter worth about $127,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Sage Therapeutics by 353.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 5,406 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Sage Therapeutics during the 1st quarter worth about $187,000. ProShare Advisors LLC boosted its position in shares of Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Sage Therapeutics during the 4th quarter worth about $261,000. 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.