Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by Needham & Company LLC

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

Other research analysts have also issued research reports about the stock. HC Wainwright reiterated a “neutral” rating and issued a $25.00 price target on shares of Sage Therapeutics in a research note on Wednesday, June 12th. Scotiabank decreased their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. Canaccord Genuity Group decreased their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Citigroup initiated coverage on shares of Sage Therapeutics in a research report on Wednesday, May 29th. They set a “sell” rating and a $8.00 target price on the stock. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.80.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $10.86 on Friday. The firm has a market capitalization of $653.55 million, a PE ratio of -1.29 and a beta of 0.91. The company’s 50-day moving average is $11.86 and its 200-day moving average is $18.24. Sage Therapeutics has a fifty-two week low of $9.76 and a fifty-two week high of $49.74.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. During the same quarter last year, the company posted ($2.46) EPS. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. As a group, analysts expect that Sage Therapeutics will post -6.48 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in Sage Therapeutics in the 1st quarter valued at approximately $127,000. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 5,406 shares during the period. Virtu Financial LLC acquired a new position in Sage Therapeutics in the 1st quarter valued at approximately $187,000. Quest Partners LLC acquired a new position in Sage Therapeutics in the 4th quarter valued at approximately $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sage Therapeutics by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 2,967 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.