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

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

Several other equities analysts have also issued reports on SAGE. JPMorgan Chase & Co. reduced their price target 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. Bank of America dropped their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. HC Wainwright decreased their target price on shares of Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. Finally, Oppenheimer decreased their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $4.85 on Wednesday. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26. The firm has a market cap of $296.69 million, a price-to-earnings ratio of -0.87 and a beta of 0.92. The firm has a 50 day moving average price of $6.80 and a 200-day moving average price of $9.13.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter in the previous year, the business earned ($2.81) EPS. Sage Therapeutics’s revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, equities research analysts predict that Sage Therapeutics will post -6.48 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC boosted its position in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics in the first quarter worth $127,000. Virtu Financial LLC bought a new position in shares of Sage Therapeutics during the first quarter valued at $187,000. China Universal Asset Management Co. Ltd. raised its position 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 during the last quarter. Finally, Quest Partners LLC boosted its stake in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares in the last quarter. Institutional investors 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.