Sage Therapeutics (NASDAQ:SAGE) Given “Hold” Rating at Needham & Company LLC

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

Several other equities analysts also recently commented on the stock. Bank of America downgraded shares of Sage Therapeutics from a neutral rating to an underperform rating and lowered their target price for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Wedbush reissued a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. HC Wainwright reissued a neutral rating and issued a $28.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price 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, Morgan Stanley boosted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics has an average rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $13.33 on Thursday. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99. The company has a market capitalization of $801.27 million, a P/E ratio of -1.47 and a beta of 0.86. The firm’s 50 day simple moving average is $19.64 and its two-hundred day simple moving average is $20.87.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. During the same quarter in the previous year, the firm earned ($2.47) earnings per share. The company’s revenue for the quarter was up 2621.5% on a year-over-year basis. On average, sell-side analysts anticipate that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after acquiring an additional 5,068 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sage Therapeutics by 1,049.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after acquiring an additional 183,607 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after acquiring an additional 111,358 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Sage Therapeutics by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after acquiring an additional 32,306 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Sage Therapeutics by 52.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after buying an additional 163,400 shares during the period. Institutional investors and hedge funds 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.