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

HC Wainwright reiterated their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) in a report published on Tuesday,Benzinga reports. HC Wainwright currently has a $12.00 price target on the biopharmaceutical company's stock.

A number of other analysts also recently weighed in on SAGE. Canaccord Genuity Group increased their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research report on Monday. Wall Street Zen downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Finally, Bank of America assumed coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.93.

Sage Therapeutics Trading Up 0.6%

NASDAQ:SAGE traded up $0.05 during mid-day trading on Tuesday, hitting $9.12. 4,077,762 shares of the company's stock traded hands, compared to its average volume of 1,274,196. The firm has a market capitalization of $571.09 million, a price-to-earnings ratio of -1.57 and a beta of 0.18. The firm has a 50 day moving average of $7.07 and a two-hundred day moving average of $6.91. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $13.47.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The business had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm's revenue was up 78.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.80) earnings per share. As a group, equities research analysts expect that Sage Therapeutics will post -3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 2,268 shares during the last quarter. Teacher Retirement System of Texas boosted its position in 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 valued at $75,000 after buying an additional 2,446 shares in the last quarter. Picton Mahoney Asset Management grew its stake 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 worth $35,000 after buying an additional 3,581 shares during the last quarter. AlphaQuest LLC bought a new stake in Sage Therapeutics during the first quarter worth about $32,000. Finally, ProShare Advisors LLC increased its holdings in shares of Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock worth $99,000 after buying an additional 4,350 shares in the last quarter. 99.22% of the stock is currently 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.