Sage Therapeutics' (SAGE) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) in a report published on Wednesday, Benzinga reports. The firm currently has a $24.00 price target on the biopharmaceutical company's stock.

Several other research analysts have also issued reports on SAGE. HC Wainwright reaffirmed a neutral rating and set a $28.00 target price on shares of Sage Therapeutics in a research report on Wednesday. StockNews.com upgraded Sage Therapeutics from a sell rating to a hold rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their target price for the stock from $24.00 to $14.00 in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $40.56.

Sage Therapeutics Trading Down 19.6 %

NASDAQ:SAGE traded down $3.06 during trading hours on Wednesday, hitting $12.57. 4,313,114 shares of the company were exchanged, compared to its average volume of 996,338. The stock has a market capitalization of $755.58 million, a price-to-earnings ratio of -1.39 and a beta of 0.86. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The company has a fifty day simple moving average of $20.06 and a 200 day simple moving average of $20.96.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. Sage Therapeutics's revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same period last year, the company earned ($2.47) EPS. Equities research analysts predict that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. grew its position in shares of Sage Therapeutics by 63.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company's stock valued at $378,000 after purchasing an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp grew its position in Sage Therapeutics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company's stock worth $11,672,000 after acquiring an additional 10,134 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Sage Therapeutics in the first quarter worth $34,000. Vanguard Group Inc. grew its position in Sage Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company's stock worth $153,088,000 after acquiring an additional 46,762 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Sage Therapeutics by 4.1% in the first quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company's stock worth $27,958,000 after acquiring an additional 33,218 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.