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Vampire:
Pros:
Vampire abilities use magicka and scale off of magicka, making them far more suited to caster type builds.
Cons:
They take a large debuff to fire damage, as well as a decreased health regeneration.
Werewolf:
Pros:
Werewolves gain a 15% stamina regen boost in combat that ends up helping any class.
Cons:
There skills use stamina and scale off of stamina, making them more suited for a stamina build.
Overall if you are a caster sorcerer, which I assumed as it seems to be standard these days, your best bet between the two is to go vampire, thought it has so significant drawbacks, namely the fire debuf.
As far as I'm aware, WW doesn't really have any uses for sorcerers. You'd want WW with a stamina based build. as it has a regen passive. I honestly don't know much past that regarding werewolves so I could be wrong.
Vamps on the other hand have stamina & magicka passive. The ultimate is amazing and costs a lot less when in stage 4. The downside is a significant loss to health regen, but this can be countered as a mage with an abundance of shield spells.
You also get a hefty weakness to fire spells, but if you choose dunmer as your race, you get a natural resistance to fire through your passives. You can also enchant your jewellery to resist fire too.
As you can see, I say vamp all the way. WW is more directed towards melee I think.