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 released on Thursday, Benzinga reports.

SAGE has been the topic of several other reports. Wedbush decreased their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Bank of America decreased their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Scotiabank reduced their target price on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Mizuho dropped their price target on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.76.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $7.21 on Thursday. The company’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $10.58. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26. The stock has a market capitalization of $440.17 million, a PE ratio of -0.97 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the business posted ($2.68) EPS. The company’s quarterly revenue was up 249.8% on a year-over-year basis. On average, research analysts anticipate that Sage Therapeutics will post -6.46 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently added to or reduced their stakes in SAGE. Fisher Asset Management LLC boosted its holdings in shares of Sage Therapeutics by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after purchasing an additional 32,306 shares during the period. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after buying an additional 111,358 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after buying an additional 5,068 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sage Therapeutics by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 1,693 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Sage Therapeutics by 9.4% during the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 1,652 shares in the last quarter. 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.