Sage Therapeutics’ (SAGE) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note published on Wednesday,Benzinga reports. Wedbush currently has a $6.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on SAGE. Truist Financial reduced their price objective on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reduced their target price on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Scotiabank decreased their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group reduced their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.65.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $7.16 on Wednesday. Sage Therapeutics has a one year low of $4.62 and a one year high of $27.39. The company has a fifty day moving average price of $6.34 and a 200 day moving average price of $6.93. The stock has a market cap of $437.98 million, a P/E ratio of -1.28 and a beta of 0.94.

Sage Therapeutics (NASDAQ:SAGE) last posted 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 return on equity of 50.29% and a negative net margin of 317.29%. As a group, equities research analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in Sage Therapeutics by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 7,087 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Sage Therapeutics during the fourth quarter worth $759,000. Geode Capital Management LLC increased its stake in shares of Sage Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock valued at $6,827,000 after buying an additional 14,049 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in shares of Sage Therapeutics by 199.0% in the fourth quarter. Fox Run Management L.L.C. now owns 48,950 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 32,579 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sage Therapeutics during the 4th quarter worth about $49,000. 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.