Sage Therapeutics (NASDAQ:SAGE) Given “Hold” Rating at Needham & Company LLC

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

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 7th. Bank of America initiated coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.87.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $9.07 on Monday. The stock has a 50-day moving average of $7.02 and a two-hundred day moving average of $6.90. Sage Therapeutics has a one year low of $4.62 and a one year high of $13.47. The stock has a market cap of $567.97 million, a P/E ratio of -1.38 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same period last year, the firm earned ($1.80) EPS. The business’s quarterly revenue was up 78.0% compared to the same quarter last year. Analysts predict that Sage Therapeutics will post -3.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently modified their holdings of SAGE. AlphaQuest LLC bought a new stake in shares of Sage Therapeutics in the first quarter valued at about $32,000. Picton Mahoney Asset Management grew its position in Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares during the last quarter. Headlands Technologies LLC bought a new stake in Sage Therapeutics during the 1st quarter worth approximately $37,000. KLP Kapitalforvaltning AS bought a new stake in Sage Therapeutics during the 4th quarter worth approximately $49,000. Finally, Ieq Capital LLC bought a new stake in Sage Therapeutics during the 4th quarter worth approximately $57,000. 99.22% of the stock is 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.