Needham & Company LLC Reiterates Hold Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their target price on Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. TD Cowen cut their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Truist Financial decreased their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada dropped their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Finally, Wedbush reissued a “neutral” rating and set a $24.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and a consensus target price of $34.80.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $10.69 on Friday. The firm’s 50 day moving average price is $11.91 and its two-hundred day moving average price is $18.32. Sage Therapeutics has a twelve month low of $9.76 and a twelve month high of $49.74. The stock has a market cap of $643.32 million, a price-to-earnings ratio of -1.27 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The business had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The business’s quarterly revenue was up 139.4% on a year-over-year basis. During the same period last year, the business earned ($2.46) EPS. On average, research analysts forecast that Sage Therapeutics will post -6.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SAGE. Virtu Financial LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter worth about $187,000. Baker BROS. Advisors LP bought a new position in Sage Therapeutics in the 1st quarter worth approximately $7,631,000. Bellevue Group AG lifted its holdings in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after buying an additional 333,805 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Sage Therapeutics in the first quarter valued at approximately $127,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Company Profile

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.