Needham & Company LLC Reaffirms “Hold” Rating for Sage Therapeutics (NASDAQ:SAGE)

Needham & Company LLC restated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a report issued on Tuesday, Benzinga reports.

SAGE has been the topic of a number of other reports. Scotiabank lowered their price target on shares of Sage Therapeutics from $19.00 to $17.00 and set a sector outperform rating on the stock in a research report on Thursday, July 25th. Truist Financial dropped their price target on Sage Therapeutics from $18.00 to $13.00 and set a hold rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price objective on Sage Therapeutics from $12.00 to $10.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada lowered Sage Therapeutics from an outperform rating to a sector perform rating and lowered their price objective for the stock from $10.00 to $4.00 in a research note on Friday, October 4th. Finally, The Goldman Sachs Group cut their target price on Sage Therapeutics from $19.00 to $11.00 and set a neutral rating for the company in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $13.76.

Sage Therapeutics Trading Down 1.8 %

Shares of SAGE opened at $6.37 on Tuesday. The stock’s 50 day moving average is $7.74 and its two-hundred day moving average is $10.99. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The firm has a market cap of $388.89 million, a P/E ratio of -0.76 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same quarter in the previous year, the firm posted ($2.68) earnings per share. The company’s quarterly revenue was up 249.8% on a year-over-year basis. Equities research analysts forecast that Sage Therapeutics will post -6.47 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after acquiring an additional 183,607 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the period. Vanguard Group Inc. grew its holdings in shares of Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares in the last quarter. Virtu Financial LLC purchased a new stake in Sage Therapeutics during the 1st quarter worth approximately $187,000. Finally, Bellevue Group AG increased its stake in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the period. 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.