Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a research note on Tuesday, July 2nd. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. TD Cowen lowered their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Canaccord Genuity Group lowered their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Royal Bank of Canada lowered their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.95.

Sage Therapeutics Trading Up 0.9 %

Shares of NASDAQ SAGE opened at $10.47 on Wednesday. Sage Therapeutics has a 1-year low of $9.73 and a 1-year high of $41.67. The company has a market cap of $630.08 million, a PE ratio of -1.25 and a beta of 0.90. The company has a 50-day moving average of $11.33 and a two-hundred day moving average of $16.97.

Sage Therapeutics (NASDAQ:SAGE) last announced its 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). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same period in the prior year, the firm posted ($2.46) earnings per share. The company’s revenue was up 139.4% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics will post -6.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SAGE. Bellevue Group AG lifted its stake in Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after buying an additional 432,013 shares in the last quarter. Baker BROS. Advisors LP bought a new position in Sage Therapeutics in the first quarter valued at approximately $7,631,000. Price T Rowe Associates Inc. MD lifted its stake in Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after buying an additional 183,607 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.