Sage Therapeutics (NASDAQ:SAGE) Earns “Hold” Rating from Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

A number of other research firms have also commented on SAGE. Piper Sandler reduced their price objective on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday. Scotiabank cut their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus cut their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $7.18 on Wednesday. The firm has a market cap of $439.20 million, a P/E ratio of -1.29 and a beta of 0.94. The business’s fifty day moving average is $6.34 and its two-hundred day moving average is $6.93. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $27.39.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) 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%. On average, equities research analysts predict that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently modified their holdings of SAGE. Inspire Investing LLC increased its holdings in shares of Sage Therapeutics by 77.0% in the third quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 25,139 shares in the last quarter. Creative Planning bought a new stake in shares of Sage Therapeutics in the third quarter worth about $88,000. Assenagon Asset Management S.A. increased its holdings in shares of Sage Therapeutics by 11.3% in the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock worth $1,343,000 after acquiring an additional 18,814 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Sage Therapeutics by 21.7% in the third quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock worth $330,000 after acquiring an additional 8,166 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.