Sage Therapeutics’ (SAGE) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Other research analysts have also recently issued research reports about the company. Mizuho lowered their price objective on Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a research report on Friday, April 26th. HC Wainwright reissued a neutral rating and set a $25.00 target price on shares of Sage Therapeutics in a report on Wednesday, June 12th. Canaccord Genuity Group reduced their target price on Sage Therapeutics from $21.00 to $17.00 and set a hold rating on the stock in a report on Friday, April 26th. Baird R W raised Sage Therapeutics to a hold rating in a report on Wednesday, May 29th. Finally, Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and reduced their target price for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $34.80.

Sage Therapeutics Stock Performance

SAGE opened at $10.86 on Friday. The stock’s fifty day simple moving average is $11.86 and its 200 day simple moving average is $18.25. Sage Therapeutics has a 1-year low of $9.76 and a 1-year high of $49.74.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.46) EPS. As a group, research analysts expect that Sage Therapeutics will post -6.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently made changes to their positions in SAGE. Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics during the first quarter worth about $127,000. China Universal Asset Management Co. Ltd. raised its position in shares of 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 worth $150,000 after acquiring an additional 5,406 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Sage Therapeutics during the first quarter worth about $187,000. ProShare Advisors LLC raised its position in shares of Sage Therapeutics by 9.0% during the first quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after acquiring an additional 1,130 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Sage Therapeutics in the fourth quarter worth approximately $261,000. 99.22% of the stock is currently owned by institutional investors.

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.