Sage Therapeutics (NASDAQ:SAGE) Earns Hold Rating from Needham & Company LLC

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

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. TD Cowen reduced their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. HC Wainwright restated a “neutral” rating and set a $28.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Finally, Scotiabank reduced their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $39.28.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $14.00 on Thursday. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99. The firm has a 50-day moving average price of $18.99 and a two-hundred day moving average price of $20.73. The firm has a market cap of $841.54 million, a price-to-earnings ratio of -1.55 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. During the same period last year, the business posted ($2.47) earnings per share. Sage Therapeutics’s revenue was up 2621.5% on a year-over-year basis. As a group, sell-side analysts forecast that Sage Therapeutics will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SAGE. Teacher Retirement System of Texas raised its position in Sage Therapeutics by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 698 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares during the last quarter. CWM LLC boosted its holdings in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares during the period. Inspire Investing LLC grew its position in Sage Therapeutics by 8.4% during the 3rd quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Swiss National Bank increased its stake in Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after purchasing an additional 1,200 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.