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

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

A number of other equities analysts also recently weighed in on SAGE. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price on the stock in a report on Thursday, November 21st. Truist Financial decreased their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus decreased their price objective on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.41.

Sage Therapeutics Trading Down 1.0 %

Shares of SAGE opened at $7.19 on Wednesday. The company has a market cap of $439.81 million, a price-to-earnings ratio of -1.29 and a beta of 0.94. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $27.39. The company’s fifty day simple moving average is $6.28 and its 200 day simple moving average is $6.96.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. As a group, research analysts forecast that Sage Therapeutics will post -6.46 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fox Run Management L.L.C. lifted its position in Sage Therapeutics by 199.0% during the fourth quarter. Fox Run Management L.L.C. now owns 48,950 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 32,579 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Sage Therapeutics during the fourth quarter worth about $49,000. Teacher Retirement System of Texas lifted its position in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 2,446 shares during the period. Thrivent Financial for Lutherans lifted its position in Sage Therapeutics by 108.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 38,876 shares during the period. Finally, Picton Mahoney Asset Management lifted its position in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,581 shares during the period. 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.