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

Needham & Company LLC reissued their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report released on Wednesday morning,Benzinga reports.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group reduced their target price on 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 dropped their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Piper Sandler restated an “overweight” rating and set a $26.00 price target (down from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th. Finally, Oppenheimer dropped their price target on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $4.91 on Wednesday. The business’s 50-day moving average price is $6.85 and its 200 day moving average price is $9.16. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter last year, the company posted ($2.81) earnings per share. The business’s quarterly revenue was up 337.1% compared to the same quarter last year. As a group, research analysts anticipate that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares during the last quarter. State Street Corp lifted its holdings in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing 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 purchasing an additional 111,123 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $208,000. Finally, Martingale Asset Management L P lifted its holdings in shares of Sage Therapeutics by 55.1% in the 3rd quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 16,717 shares during the last quarter. 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.