Sage Therapeutics’ (SAGE) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report sent to investors on Thursday morning, Benzinga reports.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $10.00 to $4.00 in a research note on Friday, October 4th. Bank of America decreased their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Truist Financial decreased their price target on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Mizuho dropped their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.76.

Sage Therapeutics Stock Up 5.0 %

SAGE opened at $7.57 on Thursday. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26. The business’s 50 day moving average is $7.56 and its two-hundred day moving average is $10.46. The firm has a market cap of $462.15 million, a price-to-earnings ratio of -1.02 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The business had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business’s revenue was up 249.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.68) earnings per share. Equities analysts expect that Sage Therapeutics will post -6.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC increased its stake in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Sage Therapeutics during the first quarter worth $127,000. Virtu Financial LLC acquired a new stake in Sage Therapeutics in the first quarter valued at $187,000. Quest Partners LLC increased its position in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth $88,000. Hedge funds and other 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.