Sage Therapeutics’ (SAGE) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report report published on Wednesday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. TD Cowen lowered their price target on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 21st. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Truist Financial decreased their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Piper Sandler dropped their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Scotiabank cut their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and an average target price of $9.65.

Sage Therapeutics Stock Down 0.6 %

Shares of Sage Therapeutics stock opened at $7.14 on Wednesday. The company has a market cap of $438.97 million, a P/E ratio of -1.28 and a beta of 0.94. The firm’s 50 day moving average price is $6.40 and its 200-day moving average price is $6.91. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $26.25.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. As a group, equities research analysts forecast that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. Caligan Partners LP acquired a new position in shares of Sage Therapeutics in the fourth quarter worth about $16,575,000. Boothbay Fund Management LLC acquired a new position in Sage Therapeutics in the 4th quarter worth about $7,540,000. State Street Corp boosted its position in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Federated Hermes Inc. grew its holdings in Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock valued at $6,004,000 after purchasing an additional 430,432 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock valued at $2,509,000 after buying an additional 234,528 shares in the last quarter. 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.