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

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

Several other brokerages also recently commented on SAGE. Wedbush reaffirmed a neutral rating and set a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday. TD Cowen reduced their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a report on Tuesday, March 26th. Morgan Stanley boosted their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Finally, HC Wainwright reissued a neutral rating and issued a $28.00 price objective on shares of Sage Therapeutics in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $39.28.

Sage Therapeutics Stock Up 3.7 %

Shares of SAGE stock opened at $13.04 on Thursday. The company has a 50-day simple moving average of $20.06 and a 200 day simple moving average of $20.96. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. Sage Therapeutics’s revenue was up 2621.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.47) EPS. Equities research analysts predict that Sage Therapeutics will post -6.06 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares in the last quarter. KBC Group NV acquired a new position in Sage Therapeutics during the 4th quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Sage Therapeutics during the 1st quarter worth approximately $34,000. Finally, Tower Research Capital LLC TRC increased its position in Sage Therapeutics by 74.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 2,148 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.