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

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

SAGE has been the subject of several other reports. The Goldman Sachs Group lowered their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a research report on Wednesday, October 9th. Robert W. Baird reduced their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America lowered their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.76.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $7.57 on Thursday. The stock’s fifty day moving average is $7.56 and its two-hundred day moving average is $10.46. The firm has a market capitalization of $462.15 million, a P/E ratio of -1.02 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 data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The firm 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%. The company’s revenue for the quarter was up 249.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.68) EPS. As a group, sell-side analysts forecast that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC increased its holdings in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Sage Therapeutics in the first quarter valued at approximately $127,000. Virtu Financial LLC purchased a new position in Sage Therapeutics in the first quarter valued at approximately $187,000. Quest Partners LLC raised its holdings in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Sage Therapeutics during the 3rd quarter worth approximately $88,000. 99.22% of the stock is owned by hedge funds and other 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.