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

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

Other analysts have also recently issued research reports about the stock. Bank of America cut shares of Sage Therapeutics from a neutral rating to an underperform rating and dropped their target price for the company from $24.00 to $14.00 in a report on Wednesday. Morgan Stanley upped their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Wednesday, February 28th. HC Wainwright reiterated a neutral rating and issued a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday. StockNews.com raised Sage Therapeutics from a sell rating to a hold rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. boosted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Sage Therapeutics presently has an average rating of Hold and an average price target of $39.28.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $13.04 on Thursday. The company’s fifty day simple moving average is $20.06 and its two-hundred day simple moving average is $20.96. Sage Therapeutics has a 12-month low of $10.92 and a 12-month 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, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The firm had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter in the previous year, the business posted ($2.47) EPS. The company’s quarterly revenue was up 2621.5% on a year-over-year basis. On average, equities analysts expect that Sage Therapeutics will post -6.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC acquired a new stake in shares of Sage Therapeutics during the first quarter worth about $34,000. CWM LLC increased its holdings in Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares during the period. KBC Group NV acquired a new position in Sage Therapeutics in the 4th quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the period. Finally, XTX Topco Ltd acquired a new position in Sage Therapeutics in the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.