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

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. TD Cowen dropped their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Wedbush restated a “neutral” rating and issued a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, Scotiabank decreased their target price on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Stock Performance

NASDAQ:SAGE opened at $13.69 on Thursday. The company’s 50-day simple moving average is $18.56 and its 200-day simple moving average is $20.64. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The stock has a market capitalization of $822.91 million, a P/E ratio of -1.51 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same period in the prior year, the firm posted ($2.46) earnings per share. Sage Therapeutics’s revenue for the quarter was up 139.4% compared to the same quarter last year. On average, research analysts forecast that Sage Therapeutics will post -6.3 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SAGE. Pinnacle Associates Ltd. boosted its stake in shares of Sage Therapeutics by 69.6% in the first quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after acquiring an additional 117,344 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Sage Therapeutics by 1,058.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after purchasing an additional 143,075 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Sage Therapeutics by 8.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after purchasing an additional 5,068 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock valued at $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after buying an additional 111,358 shares in the last quarter. Institutional investors and hedge funds 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.