Sage Therapeutics (NASDAQ:SAGE) Earns Hold Rating from Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

A number of other equities analysts have also recently commented on SAGE. The Goldman Sachs Group decreased their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Bank of America dropped their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Scotiabank cut their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Trading Up 2.7 %

NASDAQ:SAGE opened at $4.91 on Wednesday. The company has a market cap of $300.34 million, a PE ratio of -0.88 and a beta of 0.92. The company has a 50 day simple moving average of $6.90 and a two-hundred day simple moving average of $9.23. Sage Therapeutics has a 12 month low of $4.70 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business’s revenue was up 337.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.81) EPS. Research analysts forecast that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after buying an additional 3,757 shares in the last quarter. State Street Corp increased its stake in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the last quarter. RTW Investments LP lifted its holdings in shares of 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 last quarter. Erste Asset Management GmbH purchased a new stake in Sage Therapeutics during the third quarter worth about $208,000. Finally, Martingale Asset Management L P increased its stake in Sage Therapeutics by 55.1% during the 3rd quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 16,717 shares during the period. Institutional investors and hedge funds 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.