Sage Therapeutics (NASDAQ:SAGE) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Wednesday,Benzinga reports.

SAGE has been the topic of several other research reports. Truist Financial dropped their price objective on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. HC Wainwright reissued a “neutral” rating and set a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a report on Thursday, November 21st. TD Cowen reduced their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, Scotiabank reduced their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.65.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $7.16 on Wednesday. The stock’s 50-day moving average is $6.34 and its two-hundred day moving average is $6.93. The firm has a market cap of $437.98 million, a price-to-earnings ratio of -1.28 and a beta of 0.94. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $27.39.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, research analysts predict that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP grew its stake in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after acquiring an additional 111,123 shares during the period. State Street Corp grew its stake in shares of Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the period. Geode Capital Management LLC grew its stake in shares of Sage Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock valued at $6,827,000 after buying an additional 14,049 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock valued at $2,510,000 after buying an additional 10,116 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Sage Therapeutics by 11.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock valued at $1,343,000 after buying an additional 18,814 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.