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

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

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group decreased their price target on Sage Therapeutics from $28.00 to $19.00 and set a neutral rating on the stock in a report on Friday, April 26th. Robert W. Baird reissued a neutral rating and issued a $15.00 target price on shares of Sage Therapeutics in a research note on Tuesday, June 11th. JPMorgan Chase & Co. dropped their price target on Sage Therapeutics from $28.00 to $23.00 and set an overweight rating on the stock in a research report on Thursday, June 20th. Mizuho dropped their price target 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. Finally, Scotiabank decreased their price objective on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $34.80.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $10.86 on Friday. The stock’s fifty day moving average is $11.86 and its 200-day moving average is $18.22. The stock has a market capitalization of $653.58 million, a PE ratio of -1.29 and a beta of 0.91. Sage Therapeutics has a 52 week low of $9.76 and a 52 week high of $49.74.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAGE. ProShare Advisors LLC lifted its holdings in Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Sage Therapeutics by 9.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock worth $312,000 after purchasing an additional 1,480 shares in the last quarter. Inspire Investing LLC lifted its holdings in Sage Therapeutics by 9.4% during the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 1,652 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sage Therapeutics by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock worth $723,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Sage Therapeutics by 29.8% during the 4th quarter. Handelsbanken Fonder AB now owns 12,644 shares of the biopharmaceutical company’s stock worth $274,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.