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

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

Several other equities research analysts have also issued reports on SAGE. Bank of America lowered their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird decreased their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Sage Therapeutics in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Mizuho decreased their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.76.

Sage Therapeutics Stock Down 0.7 %

SAGE stock opened at $8.48 on Wednesday. The company’s 50-day simple moving average is $7.52 and its 200-day simple moving average is $10.05. Sage Therapeutics has a 52-week low of $5.84 and a 52-week high of $28.26. The firm has a market cap of $510.34 million, a P/E ratio of -1.01 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.53). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period in the prior year, the company posted ($2.81) EPS. The company’s revenue for the quarter was up 337.1% on a year-over-year basis. On average, analysts anticipate that Sage Therapeutics will post -6.43 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in shares of Sage Therapeutics by 21.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock worth $330,000 after purchasing an additional 8,166 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the period. Assenagon Asset Management S.A. boosted its position 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 worth $1,343,000 after purchasing an additional 18,814 shares during the period. Creative Planning purchased a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $88,000. Finally, Inspire Investing LLC boosted its position in shares of Sage Therapeutics by 77.0% during the 3rd quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 25,139 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.