Sage Therapeutics (NASDAQ:SAGE) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Sage Therapeutics (NASDAQ:SAGE) in a report issued on Wednesday, The Fly reports. The firm issued a buy rating on the biopharmaceutical company’s stock.

SAGE has been the subject of a number of other research reports. SVB Leerink reduced their price objective on Sage Therapeutics from $90.00 to $70.00 and set a market perform rating for the company in a research note on Wednesday, June 16th. Citigroup downgraded Sage Therapeutics from a buy rating to a neutral rating and reduced their price objective for the company from $101.00 to $68.00 in a research note on Wednesday, June 16th. Royal Bank of Canada cut their price target on Sage Therapeutics from $60.00 to $55.00 and set a sector perform rating for the company in a research note on Wednesday, August 4th. William Blair downgraded Sage Therapeutics from an outperform rating to a market perform rating and set a $62.00 price target for the company. in a research note on Wednesday, June 16th. Finally, HC Wainwright cut their price target on Sage Therapeutics from $86.00 to $80.00 and set a neutral rating for the company in a research note on Wednesday, August 4th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $81.35.

Shares of NASDAQ:SAGE opened at $44.35 on Wednesday. The company has a market capitalization of $2.61 billion, a PE ratio of 3.49 and a beta of 1.86. The business has a fifty day moving average price of $44.45 and a two-hundred day moving average price of $61.03. Sage Therapeutics has a 1 year low of $39.77 and a 1 year high of $98.39.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, August 3rd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.14). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.01 million. Sage Therapeutics had a net margin of 59.79% and a negative return on equity of 26.50%. The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.63) EPS. On average, sell-side analysts forecast that Sage Therapeutics will post -7.25 EPS for the current year.

In other Sage Therapeutics news, CEO Barry E. Greene purchased 23,640 shares of the stock in a transaction on Thursday, August 5th. The shares were purchased at an average price of $43.15 per share, with a total value of $1,020,066.00. Following the acquisition, the chief executive officer now directly owns 32,440 shares in the company, valued at approximately $1,399,786. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at about $29,000. Eaton Vance Management purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at about $30,000. Highlander Capital Management LLC purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at about $37,000. Quantbot Technologies LP purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at about $43,000. Finally, Van ECK Associates Corp bought a new position in shares of Sage Therapeutics during the 2nd quarter valued at about $43,000. 84.72% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

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