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

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

Several other research analysts have also recently commented on the stock. Truist Financial lowered their price target 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. Bank of America dropped their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group cut their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Scotiabank reduced their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. Finally, HC Wainwright reissued a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $12.89.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $6.44 on Wednesday. The stock has a market capitalization of $387.57 million, a P/E ratio of -0.76 and a beta of 0.91. Sage Therapeutics has a fifty-two week low of $5.84 and a fifty-two week high of $28.26. The company has a 50 day moving average price of $7.52 and a 200 day moving average price of $10.00.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter last year, the company earned ($2.81) EPS. Sage Therapeutics’s revenue for the quarter was up 337.1% compared to the same quarter last year. On average, research analysts forecast that Sage Therapeutics will post -6.43 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake 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. Bellevue Group AG grew its stake in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after acquiring an additional 952,193 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Sage Therapeutics during the second quarter worth approximately $7,281,000. Finally, Renaissance Technologies LLC lifted its position in Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 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.