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

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

Several other research firms also recently issued reports on SAGE. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research note on Thursday, November 21st. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Scotiabank lowered their price objective on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen lowered their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Truist Financial lowered their price objective 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. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.41.

Sage Therapeutics Trading Down 1.0 %

Shares of NASDAQ SAGE opened at $7.19 on Wednesday. The company has a market cap of $439.81 million, a price-to-earnings ratio of -1.29 and a beta of 0.94. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.39. The stock has a 50-day moving average price of $6.28 and a two-hundred day moving average price of $6.96.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. On average, sell-side analysts predict that Sage Therapeutics will post -6.46 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management lifted its holdings in shares of Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,581 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Sage Therapeutics in the 4th quarter worth $49,000. Ieq Capital LLC bought a new position in shares of Sage Therapeutics in the 4th quarter worth $57,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 66.1% in 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 in the last quarter. Finally, Creative Planning bought a new position in shares of Sage Therapeutics in the 3rd quarter worth $88,000. 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.