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

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

SAGE has been the subject of a number of other reports. 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. Royal Bank of Canada raised their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their target price for the company from $24.00 to $14.00 in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday. Finally, Morgan Stanley raised their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $13.33 on Thursday. The firm has a fifty day moving average price of $19.85 and a 200-day moving average price of $20.91. The stock has a market cap of $801.23 million, a PE ratio of -1.47 and a beta of 0.86. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

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, topping analysts’ consensus estimates of ($1.28) by $0.73. The firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.47) earnings per share. On average, research analysts expect that Sage Therapeutics will post -6.06 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Sage Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after acquiring an additional 208,630 shares during the last quarter. Algert Global LLC bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth about $1,167,000. Rafferty Asset Management LLC lifted its holdings in shares of Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after acquiring an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in shares of Sage Therapeutics by 41.3% in the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock worth $1,849,000 after acquiring an additional 26,250 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Company Profile

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.