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

Needham & Company LLC restated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note published on Thursday morning, Benzinga reports.

SAGE has been the subject of several other research reports. Royal Bank of Canada increased their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Oppenheimer decreased their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a report on Thursday, April 18th. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and decreased their price objective for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. JPMorgan Chase & Co. raised their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Finally, Scotiabank decreased their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $37.72.

Sage Therapeutics Trading Up 0.8 %

SAGE opened at $13.69 on Thursday. The company’s fifty day moving average price is $18.56 and its two-hundred day moving average price is $20.65. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99. The company has a market cap of $823.86 million, a price-to-earnings ratio of -1.63 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The business’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) EPS. As a group, equities analysts forecast that Sage Therapeutics will post -6.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SAGE. RTW Investments LP purchased a new position in shares of Sage Therapeutics during the third quarter worth approximately $105,976,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Sage Therapeutics in the third quarter worth $8,052,000. Rafferty Asset Management LLC increased its stake in shares of Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after buying an additional 273,257 shares during the period. Hudson Bay Capital Management LP increased its stake in shares of Sage Therapeutics by 1,733.3% in the third quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock worth $5,660,000 after buying an additional 260,000 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after buying an additional 208,630 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.