|Wasps (17) 17|
|Tries: Wade, Daly Cons: Andy Goode 2 Pens: Andy Goode|
|Saracens (20) 26|
|Tries: Wray, Wyles Cons: Alex Goode 2 Pens: Alex Goode 4|
Saracens fought back from 14 points down to move up to third and end fellow play-off hopefuls Wasps' unbeaten record at the Ricoh Arena.
The hosts had led 17-3 thanks to two converted tries in quick succession from Christian Wade and Elliot Daly.
But Jackson Wray and Chris Wyles both went in before the break to turn the game around and put Saracens ahead.
Alex Goode kicked two second-half penalties as the visitors added 23 points without reply to deservedly win.
Wasps, who had started the day level on points with Saracens, dropped to sixth after Leicester Tigers' late win at Newcastle Falcons.
Andy Goode kicked the home side in front early on after Maro Itoje was penalised for not rolling away, but his namesake levelled the scores soon afterwards when Wasps were penalised for not releasing.
Wade then registered the first try of the afternoon, running on to his own grubber-kick to cross after quick hands from Ashley Johnson.
Daly surged through to add a second try for Wasps moments later, and they looked well on course to extend their 100% Premiership home record since relocating to Coventry.
However, a driving Saracens maul from a line-out led to a try from Wray and then an Alex Goode penalty reduced the lead to just four points.
Versatile USA international Wyles collected Richard Wigglesworth's bouncing kick to put Sarries in front and Alex Goode, playing at fly-half in the absence of Owen Farrell and Charlie Hodgson, added another penalty before half-time.
After the break, despite Chris Ashton still being in the sin-bin for a first-half high tackle, Alex Goode added a further three points to extend Saracens' lead.
England and Saracens centre Brad Barritt then limped off with an ankle injury after landing awkwardly.
Wasps substitute Guy Thompson was then sent to the sin-bin for going in at the side and Goode was successful again from the resulting penalty.
Saracens looked the stronger as the game went on, with Wigglesworth in particular outstanding, and the victory saw them move above Bath, but remain below second-place Exeter after the Chiefs recorded a bonus-point win on Saturday.
Wasps director of rugby Dai Young:
"Nothing changes as a result of today, we are still a work in progress and we are still aiming for a place in the top six.
"We knew what was coming from (Saracens) as they don't play a lot of rugby, they kick the ball a lot to squeeze you and it's very hard to play against.
"If you can control it, you get options to play, as we showed in the first 20 minutes, but after that we struggled to deal with the aerial bombardment as we dropped the ball far too often."
Saracens boss Mark McCall:
"We had the clarity of thought not to be spooked when they scored two tries in three minutes as we put the ball in the right areas to put pressure on them.
"You can see that they have people who can hurt you from long range as they've scored a lot of tries from inside their own half this season.
"We had chances to close it up late on, which we didn't take, but we did deprive them of a vital bonus point."
"We are hopeful (Brad Barritt's injury) isn't too serious and we have our fingers crossed because Brad must be very close to England selection next week."
Wasps: Miller; Wade, Daly, Downey, Tagicakibau; Andy Goode, Simpson; Mullan (capt), Lindsay, Cittadini, Davies, Gaskell, Johnson, Young, Hughes.
Replacements: Masi for Downey (63), Lozowski for Goode (71), McIntyre for Mullan (71), Jackson for Lindsay (72), Swainston for Cittadini (67), Myall for Gaskell (60). Not Used: Thompson, Weepu.
Sin Bin: Thompson (66).
Saracens: Ransom; Ashton, Bosch, Barritt, Wyles; Alex Goode, Wigglesworth; Vunipola, George, Du Plessis, Hamilton, Hargreaves (capt), Itoje, Burger, Wray.
Replacements: Streather for Barritt (59), Spencer for Wigglesworth (79), Gill for Vunipola (63), Saunders for George (79), Figallo for Du Plessis (59), Hankin for Burger (79). Not Used: Joubert, Mordt.
Sin Bin: Ashton (41).
Referee: Matt Carley.