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

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

A number of other brokerages also recently commented on SAGE. HC Wainwright reissued a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, October 9th. Scotiabank lowered their price target on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Thursday, July 25th. Mizuho reduced 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. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and a consensus target price of $13.76.

Sage Therapeutics Stock Up 5.0 %

Shares of SAGE stock opened at $7.57 on Thursday. The firm has a 50 day moving average of $7.56 and a two-hundred day moving average of $10.41. The stock has a market capitalization of $455.58 million, a PE ratio of -0.90 and a beta of 0.91. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced 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 net margin of 458.30% and a negative return on equity of 55.87%. The company 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 business posted ($2.68) earnings per share. The firm’s revenue was up 249.8% on a year-over-year basis. Analysts expect that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently modified their holdings of the company. ProShare Advisors LLC raised its position in Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 1,130 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 1,480 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares during the period. Inspire Investing LLC grew its holdings in shares of Sage Therapeutics by 9.4% during the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 1,652 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Sage Therapeutics by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 1,693 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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.