Sage Therapeutics (NASDAQ:SAGE) Given Neutral Rating at HC Wainwright

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

Several other equities research analysts also recently issued reports on SAGE. Truist Financial dropped their price target on shares of Sage Therapeutics from $22.00 to $18.00 and set a hold rating on the stock in a research note on Friday, April 26th. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their price target for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. Scotiabank dropped their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research note on Thursday, April 18th. Baird R W raised shares of Sage Therapeutics to a hold rating in a report on Wednesday, May 29th. Finally, TD Cowen decreased their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $33.55.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $10.99 on Thursday. Sage Therapeutics has a 52 week low of $9.73 and a 52 week high of $37.17. The company’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $16.82.

Sage Therapeutics (NASDAQ:SAGE) last released 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). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. During the same period last year, the firm earned ($2.46) EPS. The business’s quarterly revenue was up 139.4% on a year-over-year basis. As a group, research analysts forecast that Sage Therapeutics will post -6.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP acquired a new position in Sage Therapeutics during the 4th quarter valued at about $2,234,000. Vanguard Group Inc. boosted its stake in Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after purchasing an additional 183,607 shares during the period. Assenagon Asset Management S.A. boosted its stake in Sage Therapeutics by 1,058.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock valued at $2,935,000 after purchasing an additional 143,075 shares during the period. Finally, abrdn plc acquired a new position in Sage Therapeutics during the 4th quarter valued at about $1,404,000. 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.