Wedbush Reiterates Neutral Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 target price on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential downside of 16.43% from the company’s current price.

Several other brokerages have also issued reports on SAGE. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price on the stock in a research note on Thursday, November 21st. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Truist Financial reduced their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a report on Monday, December 16th. Finally, TD Cowen reduced their target price on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.65.

Sage Therapeutics Price Performance

SAGE stock opened at $7.18 on Wednesday. The stock has a market capitalization of $439.20 million, a PE ratio of -1.29 and a beta of 0.94. The company has a 50 day moving average price of $6.34 and a 200 day moving average price of $6.93. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $27.39.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently added to or reduced their stakes in SAGE. Picton Mahoney Asset Management boosted its position in shares of Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 3,581 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Sage Therapeutics during the 4th quarter worth approximately $49,000. Ieq Capital LLC acquired a new position in Sage Therapeutics during the 4th quarter worth approximately $57,000. US Bancorp DE raised its holdings in shares of Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 2,446 shares in the last quarter. 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.