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 note released on Thursday morning, Benzinga reports.

Other analysts have also issued reports about the stock. Bank of America lowered shares of Sage Therapeutics from a neutral rating to an underperform rating and cut their price target for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. HC Wainwright reaffirmed a neutral rating and set a $28.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, April 17th. StockNews.com downgraded shares of Sage Therapeutics from a hold rating to a sell rating in a research note on Friday, April 19th. JPMorgan Chase & Co. upped their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Finally, Morgan Stanley upped their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics has an average rating of Hold and an average target price of $37.72.

Sage Therapeutics Stock Up 0.8 %

NASDAQ SAGE opened at $13.69 on Thursday. The company has a 50-day simple moving average of $18.56 and a two-hundred day simple moving average of $20.64. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99. The firm has a market cap of $823.86 million, a price-to-earnings ratio of -1.63 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The business had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. During the same quarter in the previous year, the company earned ($2.46) earnings per share. The business’s quarterly revenue was up 139.4% on a year-over-year basis. Equities analysts expect that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Sage Therapeutics by 3.3% during the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares in the last quarter. Algert Global LLC bought a new position in shares of Sage Therapeutics during the third quarter valued at approximately $1,167,000. Rafferty Asset Management LLC increased its stake in shares of Sage Therapeutics by 197.1% during the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after purchasing an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Sage Therapeutics by 41.3% during the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after purchasing an additional 26,250 shares in the last quarter. Institutional investors 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.