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

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

SAGE has been the topic of several other reports. Mizuho dropped their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Citigroup assumed coverage on shares of Sage Therapeutics in a report on Wednesday, May 29th. They set a “sell” rating and a $8.00 price objective on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a report on Tuesday, July 2nd. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sage Therapeutics from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Two 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.95.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $10.47 on Wednesday. The company’s 50-day moving average is $11.33 and its 200 day moving average is $16.97. The company has a market capitalization of $630.08 million, a P/E ratio of -1.25 and a beta of 0.90. Sage Therapeutics has a fifty-two week low of $9.73 and a fifty-two week high of $41.67.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. Sage Therapeutics’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period last year, the firm posted ($2.46) earnings per share. As a group, research analysts predict that Sage Therapeutics will post -6.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics in the first quarter worth approximately $127,000. China Universal Asset Management Co. Ltd. grew its position in Sage Therapeutics by 353.1% during the fourth 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 last quarter. Virtu Financial LLC bought a new position in Sage Therapeutics during the first quarter valued at approximately $187,000. Quest Partners LLC bought a new position in Sage Therapeutics during the fourth quarter valued at approximately $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sage Therapeutics by 31.9% during the fourth 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 last quarter. 99.22% of the stock is currently owned by institutional investors.

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.