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

Needham & Company LLC reaffirmed their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note issued to investors on Wednesday morning,Benzinga reports.

Several other equities research analysts have also commented on SAGE. The Goldman Sachs Group decreased their price objective on shares of 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 lowered their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Wedbush cut their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Oppenheimer lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Finally, Bank of America cut their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Stock Up 6.6 %

Shares of NASDAQ SAGE opened at $5.17 on Wednesday. The stock has a market capitalization of $316.26 million, a price-to-earnings ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26. The firm has a 50-day moving average price of $6.75 and a 200 day moving average price of $9.10.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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). The company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.81) earnings per share. Equities research analysts expect that Sage Therapeutics will post -6.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its stake in shares of Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 1,130 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after acquiring an additional 1,480 shares during the last quarter. Quest Partners LLC grew its position in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares during the period. AdvisorShares Investments LLC increased its stake in Sage Therapeutics by 13.6% during the second quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 1,918 shares during the last quarter. Finally, Headlands Technologies LLC raised 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 worth $43,000 after purchasing an additional 2,782 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.