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 sent to investors on Thursday morning, Benzinga reports.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group decreased their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial decreased their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Scotiabank cut their price objective on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $13.76.

Sage Therapeutics Stock Performance

SAGE opened at $7.57 on Thursday. The company has a fifty day moving average of $7.56 and a two-hundred day moving average of $10.41. The stock has a market capitalization of $455.58 million, a price-to-earnings ratio of -0.90 and a beta of 0.91. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The business had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. Sage Therapeutics’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.68) EPS. On average, equities research analysts forecast that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares during the period. Vanguard Group Inc. grew its position in Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares during the period. Virtu Financial LLC acquired a new stake in Sage Therapeutics during the first quarter worth $187,000. Bellevue Group AG raised its position in Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Sage Therapeutics by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 1,693 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.