Sage Therapeutics (NASDAQ:SAGE) Stock Rating Reaffirmed by Needham & Company LLC

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

SAGE has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on Sage Therapeutics from $28.00 to $23.00 and set an overweight rating for the company in a research note on Thursday, June 20th. Truist Financial dropped their price target on Sage Therapeutics from $22.00 to $18.00 and set a hold rating on the stock in a research report on Friday, April 26th. Canaccord Genuity Group decreased their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, April 26th. Mizuho dropped their target price on shares of Sage Therapeutics from $20.00 to $18.00 and set a neutral rating on the stock in a report on Friday, April 26th. Finally, Wedbush restated a neutral rating and issued a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $34.80.

Sage Therapeutics Stock Up 1.6 %

SAGE stock opened at $11.03 on Friday. The company has a market capitalization of $663.79 million, a PE ratio of -1.31 and a beta of 0.90. The stock’s 50 day moving average is $11.82 and its two-hundred day moving average is $18.15. Sage Therapeutics has a 52-week low of $9.76 and a 52-week high of $49.74.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS. As a group, sell-side analysts anticipate that Sage Therapeutics will post -6.48 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SAGE. Virtu Financial LLC acquired a new position in Sage Therapeutics during the 1st quarter valued at about $187,000. Baker BROS. Advisors LP acquired a new position in shares of Sage Therapeutics during the first quarter valued at approximately $7,631,000. Bellevue Group AG raised its holdings in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after purchasing an additional 333,805 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Sage Therapeutics during the 1st quarter valued at $127,000. 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.