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

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

SAGE has been the topic of a number of other reports. Wedbush restated a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday. Royal Bank of Canada lifted their price target on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. HC Wainwright reissued a “neutral” rating and set a $28.00 target price on shares of Sage Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Morgan Stanley increased their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.89.

Sage Therapeutics Stock Down 19.6 %

Sage Therapeutics stock opened at $12.57 on Thursday. Sage Therapeutics has a 52-week low of $10.92 and a 52-week high of $59.99. The company has a fifty day simple moving average of $20.06 and a 200-day simple moving average of $20.96. The firm has a market capitalization of $755.58 million, a price-to-earnings ratio of -1.39 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The firm had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. During the same quarter in the prior year, the firm posted ($2.47) earnings per share. Sage Therapeutics’s quarterly revenue was up 2621.5% on a year-over-year basis. On average, research analysts anticipate that Sage Therapeutics will post -6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Advisor Group Holdings Inc. grew its stake in Sage Therapeutics by 63.6% in the first quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after acquiring an additional 4,432 shares during the period. Bank of New York Mellon Corp grew its stake in Sage Therapeutics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after acquiring an additional 10,134 shares during the period. MetLife Investment Management LLC acquired a new position in Sage Therapeutics in the first quarter valued at about $34,000. Vanguard Group Inc. grew its stake in Sage Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after acquiring an additional 46,762 shares during the period. Finally, First Trust Advisors LP grew its stake in Sage Therapeutics by 4.1% in the first quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after acquiring an additional 33,218 shares during the period. 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.