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 issued on Wednesday morning,Benzinga reports.

SAGE has been the subject of a number of other reports. Robert W. Baird cut their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. HC Wainwright decreased their target price on Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. The Goldman Sachs Group reduced their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, TD Cowen lowered shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Trading Up 6.6 %

Shares of NASDAQ SAGE opened at $5.17 on Wednesday. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $28.26. The company has a market cap of $316.25 million, a price-to-earnings ratio of -0.93 and a beta of 0.92. The stock’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $9.05.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period in the previous year, the firm earned ($2.81) earnings per share. The company’s revenue for the quarter was up 337.1% on a year-over-year basis. As a group, equities analysts forecast that Sage Therapeutics will post -6.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 333,805 shares during the period. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the period. Virtu Financial LLC acquired a new stake in shares of Sage Therapeutics during the first quarter worth $187,000. Bellevue Group AG boosted its holdings in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Sage Therapeutics during the second quarter worth about $7,281,000. 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.