Wedbush Cuts Sage Therapeutics (NASDAQ:SAGE) Price Target to $8.00

Sage Therapeutics (NASDAQ:SAGE) had its target price cut by Wedbush from $9.00 to $8.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on SAGE. Robert W. Baird reduced their price target on Sage Therapeutics from $13.00 to $9.00 and set a neutral rating for the company in a research report on Wednesday. Royal Bank of Canada cut Sage Therapeutics from an outperform rating to a sector perform rating and reduced their price target for the stock from $10.00 to $4.00 in a research report on Friday, October 4th. Truist Financial reduced their price target on Sage Therapeutics from $18.00 to $13.00 and set a hold rating for the company in a research report on Wednesday, August 14th. HC Wainwright reaffirmed a neutral rating and issued a $25.00 price target on shares of Sage Therapeutics in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Sage Therapeutics in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $13.76.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $6.59 on Wednesday. The business’s 50-day moving average price is $7.68 and its two-hundred day moving average price is $10.90. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26. The company has a market capitalization of $402.32 million, a P/E ratio of -0.89 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the firm earned ($2.68) EPS. The business’s revenue for the quarter was up 249.8% compared to the same quarter last year. On average, equities analysts anticipate that Sage Therapeutics will post -6.47 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several large investors have recently added to or reduced their stakes in SAGE. Caxton Associates LP raised its holdings in Sage Therapeutics by 76.1% in the 4th quarter. Caxton Associates LP now owns 119,781 shares of the biopharmaceutical company’s stock valued at $2,596,000 after acquiring an additional 51,746 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares during the period. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after purchasing an additional 111,358 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after purchasing an additional 183,607 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Sage Therapeutics by 8.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after purchasing an additional 5,068 shares during the period. Institutional investors and hedge funds 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.