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 research report sent to investors on Wednesday morning,Benzinga reports.

SAGE has been the subject of a number of other reports. The Goldman Sachs Group cut their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Truist Financial reduced their price objective on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird reduced their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Scotiabank dropped their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $4.91 on Wednesday. The business’s 50 day moving average price is $6.85 and its 200-day moving average price is $9.16. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter in the prior year, the firm earned ($2.81) EPS. The firm’s revenue was up 337.1% on a year-over-year basis. Research analysts predict that Sage Therapeutics will post -6.48 EPS for the current year.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently bought and sold shares of SAGE. Headlands Technologies LLC boosted its position in Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,672 shares in the last quarter. Creative Planning purchased a new stake in shares of Sage Therapeutics in the third quarter valued at $88,000. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics in the first quarter valued at $127,000. Finally, Quest Partners LLC lifted its position in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other 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.