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

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

A number of other research firms have also recently commented on SAGE. JPMorgan Chase & Co. cut their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Mizuho reduced their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Truist Financial decreased their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. TD Cowen downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Finally, Wedbush decreased their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.76.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $7.21 on Thursday. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26. The firm has a 50-day moving average of $7.56 and a 200 day moving average of $10.58. The stock has a market cap of $440.17 million, a P/E ratio of -0.97 and a beta of 0.91.

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

Institutional Trading of Sage Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Bellevue Group AG increased its stake in Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Sage Therapeutics during the second quarter worth about $7,281,000. Renaissance Technologies LLC raised its stake in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after purchasing an additional 518,296 shares during the period. Cubist Systematic Strategies LLC raised its stake in Sage Therapeutics by 831.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock valued at $5,312,000 after purchasing an additional 436,566 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares in the last quarter. 99.22% of the stock is currently owned by 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.