Needham & Company LLC Reiterates Hold Rating for Sage Therapeutics (NASDAQ:SAGE)

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

Several other analysts have also recently commented on the company. Royal Bank of Canada lowered their price target on Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating for the company in a report on Friday, April 26th. Citigroup started coverage on Sage Therapeutics in a research note on Wednesday, May 29th. They issued a sell rating and a $8.00 price objective on the stock. Scotiabank reduced their price objective on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research note on Thursday, April 18th. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a research note on Saturday, April 27th. Finally, Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and reduced their price objective for the company from $24.00 to $14.00 in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of Hold and an average price target of $33.55.

Sage Therapeutics Trading Up 5.0 %

Sage Therapeutics stock opened at $10.99 on Wednesday. The stock has a market cap of $661.38 million, a PE ratio of -1.31 and a beta of 0.90. The stock has a 50-day moving average price of $11.28 and a 200 day moving average price of $16.82. Sage Therapeutics has a 52 week low of $9.73 and a 52 week high of $37.17.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.46) EPS. On average, equities analysts predict that Sage Therapeutics will post -6.56 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Sage Therapeutics during the 1st quarter worth $127,000. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 353.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 5,406 shares during the period. Virtu Financial LLC acquired a new position in Sage Therapeutics during the 1st quarter worth $187,000. Quest Partners LLC acquired a new position in Sage Therapeutics during the 4th quarter worth $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sage Therapeutics by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 2,967 shares during the period. 99.22% of the stock is currently owned by institutional investors.

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.