Needham & Company LLC Reaffirms “Hold” Rating for Sage Therapeutics (NASDAQ:SAGE)

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

Several other brokerages have also recently issued reports on SAGE. JPMorgan Chase & Co. cut shares of Sage Therapeutics from an overweight rating to a neutral rating and decreased their price target for the company from $18.00 to $12.00 in a research report on Thursday, July 25th. Citigroup began coverage on shares of Sage Therapeutics in a research report on Wednesday, May 29th. They issued a sell rating and a $8.00 price target for the company. Canaccord Genuity Group decreased their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a hold rating for the company in a research report on Friday, April 26th. Oppenheimer decreased their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a market perform rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Sage Therapeutics from $26.00 to $15.00 and set a sector perform rating for the company in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $33.25.

Sage Therapeutics Trading Down 8.8 %

NASDAQ:SAGE traded down $0.84 on Thursday, hitting $8.76. The company had a trading volume of 154,001 shares, compared to its average volume of 1,104,928. The stock has a market capitalization of $534.80 million, a price-to-earnings ratio of -1.14 and a beta of 0.90. The firm has a 50 day moving average of $11.15 and a two-hundred day moving average of $16.12. Sage Therapeutics has a 52 week low of $8.68 and a 52 week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. Sage Therapeutics’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same period in the previous year, the company earned ($2.68) EPS. As a group, equities analysts forecast that Sage Therapeutics will post -6.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SAGE. Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sage Therapeutics during the fourth quarter worth about $293,000. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 353.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 5,406 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Sage Therapeutics by 3,361.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 19,040 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 18,490 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sage Therapeutics by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 2,967 shares during the last quarter. 99.22% of the stock is 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.