HC Wainwright Reiterates "Neutral" Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $12.00 target price on the biopharmaceutical company's stock, down from their prior target price of $14.00. HC Wainwright's price objective indicates a potential upside of 68.07% from the company's current price.

Several other research analysts have also recently issued reports on the company. Piper Sandler decreased their price target on Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Oppenheimer decreased their price target on Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Wednesday, October 30th. TD Cowen cut their price objective on Sage Therapeutics from $10.00 to $9.00 and set a "hold" rating for the company in a report on Thursday, November 21st. Royal Bank of Canada upgraded Sage Therapeutics from an "underperform" rating to a "sector perform" rating and set a $4.00 price objective for the company in a report on Thursday, November 21st. Finally, Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.65.

Sage Therapeutics Trading Down 0.6 %

SAGE traded down $0.04 during trading on Wednesday, reaching $7.14. 1,943,315 shares of the company were exchanged, compared to its average volume of 2,832,859. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $26.25. The stock has a market cap of $436.75 million, a P/E ratio of -1.28 and a beta of 0.94. The firm has a 50 day moving average of $6.40 and a 200 day moving average of $6.91.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. As a group, analysts forecast that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. US Bancorp DE raised its position in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 2,268 shares during the period. Teacher Retirement System of Texas raised its position in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after buying an additional 2,446 shares during the period. Picton Mahoney Asset Management raised its position in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 3,581 shares during the period. Geode Capital Management LLC raised its position in Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock valued at $8,975,000 after buying an additional 3,757 shares during the period. Finally, Invesco Ltd. raised its position in Sage Therapeutics by 5.3% during the fourth quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after buying an additional 4,629 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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.