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 research report report published on Wednesday morning,Benzinga reports.

SAGE has been the subject of a number of other reports. TD Cowen lowered shares of Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $16.00 to $10.00 in a report on Tuesday, July 30th. Scotiabank dropped their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 target price (down from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.83.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $5.17 on Wednesday. The business’s 50-day moving average is $6.75 and its two-hundred day moving average is $9.10. The firm has a market capitalization of $316.26 million, a PE ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate 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 company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period last year, the firm posted ($2.81) earnings per share. The business’s revenue was up 337.1% on a year-over-year basis. Equities analysts anticipate that Sage Therapeutics will post -6.48 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SAGE. Geode Capital Management LLC raised its position in shares of Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after purchasing an additional 3,757 shares during the period. State Street Corp grew its stake in Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after buying an additional 451,377 shares during the last quarter. RTW Investments LP increased its position in Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the period. Erste Asset Management GmbH bought a new stake in Sage Therapeutics in the third quarter valued at $208,000. Finally, Martingale Asset Management L P boosted its holdings in shares of Sage Therapeutics by 55.1% during the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 16,717 shares during the period. 99.22% of the stock is currently 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.