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

Wedbush reissued their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report published on Wednesday,Benzinga reports. The firm currently has a $6.00 target price on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler dropped their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Stifel Nicolaus dropped their price objective on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, December 16th. TD Cowen dropped their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Oppenheimer lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.65.

Sage Therapeutics Price Performance

SAGE stock opened at $7.14 on Wednesday. The company has a fifty day moving average price of $6.40 and a 200 day moving average price of $6.91. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $26.25. The company has a market cap of $438.97 million, a price-to-earnings ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data 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 net margin of 317.29% and a negative return on equity of 50.29%. As a group, analysts anticipate that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RTW Investments LP lifted its holdings in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares in the last quarter. Caligan Partners LP purchased a new position in Sage Therapeutics in the 4th quarter valued at about $16,575,000. State Street Corp lifted its holdings in Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Sage Therapeutics in the 4th quarter valued at about $7,540,000. Finally, Geode Capital Management LLC lifted its holdings in Sage Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock valued at $6,827,000 after purchasing an additional 14,049 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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.