Sage Therapeutics (NASDAQ:SAGE) Earns “Hold” Rating from Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports.

A number of other research firms also recently weighed in on SAGE. Oppenheimer cut their price target on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. TD Cowen reduced their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Morgan Stanley boosted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their price target for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, Royal Bank of Canada upped their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.72.

Sage Therapeutics Stock Up 0.8 %

SAGE stock opened at $13.69 on Thursday. The company has a 50 day moving average of $18.56 and a two-hundred day moving average of $20.64. The company has a market cap of $822.91 million, a price-to-earnings ratio of -1.51 and a beta of 0.86. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s revenue was up 139.4% compared to the same quarter last year. During the same period last year, the company posted ($2.46) earnings per share. On average, research analysts anticipate that Sage Therapeutics will post -6.3 EPS for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 1,375 shares during the period. Values First Advisors Inc. bought a new position in shares of Sage Therapeutics during the 3rd quarter worth about $219,000. Finally, Quest Partners LLC acquired a new stake in shares of Sage Therapeutics during the 4th quarter valued at about $261,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.