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

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

A number of other analysts have also recently weighed in on SAGE. Wedbush restated a “neutral” rating and issued a $24.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. Truist Financial lowered their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group lowered their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a research note on Thursday, July 25th. Two investment 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.25.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $10.95 on Thursday. Sage Therapeutics has a fifty-two week low of $9.73 and a fifty-two week high of $37.17. The stock has a market capitalization of $658.97 million, a P/E ratio of -1.30 and a beta of 0.90. The company’s 50-day simple moving average is $11.23 and its 200-day simple moving average is $16.43.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its stake in Sage Therapeutics by 2.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock valued at $3,185,000 after acquiring an additional 7,334 shares during the period. Bank of New York Mellon Corp grew its stake in Sage Therapeutics by 20.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock valued at $2,376,000 after acquiring an additional 37,691 shares during the period. Easterly Investment Partners LLC grew its stake in Sage Therapeutics by 24.6% in the 2nd quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,483,000 after acquiring an additional 27,000 shares during the period. Values First Advisors Inc. grew its stake in Sage Therapeutics by 62.0% in the 2nd quarter. Values First Advisors Inc. now owns 28,962 shares of the biopharmaceutical company’s stock valued at $315,000 after acquiring an additional 11,086 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Sage Therapeutics by 6.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock valued at $1,816,000 after acquiring an additional 10,632 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

About Sage Therapeutics

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.