HC Wainwright Issues Pessimistic Forecast for Sage Therapeutics (NASDAQ:SAGE) Stock Price

Sage Therapeutics (NASDAQ:SAGE) had its price target trimmed by HC Wainwright from $25.00 to $14.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

SAGE has been the topic of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. Robert W. Baird reduced their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Truist Financial lowered their price target on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. The Goldman Sachs Group reduced their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $10.00 to $4.00 in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $6.44 on Wednesday. The company has a market cap of $387.57 million, a P/E ratio of -0.76 and a beta of 0.91. The firm has a 50-day simple moving average of $7.52 and a two-hundred day simple moving average of $10.00. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter in the previous year, the firm earned ($2.81) EPS. Sage Therapeutics’s revenue was up 337.1% compared to the same quarter last year. As a group, equities research analysts expect that Sage Therapeutics will post -6.43 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SAGE. Harbor Capital Advisors Inc. increased its position in Sage Therapeutics by 21.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 8,166 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Sage Therapeutics by 11.3% during the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 18,814 shares in the last quarter. Creative Planning purchased a new position in shares of Sage Therapeutics in the 3rd quarter valued at approximately $88,000. Finally, Inspire Investing LLC boosted its stake in Sage Therapeutics by 77.0% in the 3rd quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 25,139 shares in the last quarter. Hedge funds and other 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.