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

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

Several other research firms have also issued reports on SAGE. Royal Bank of Canada lifted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, March 26th. Morgan Stanley raised their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Scotiabank lowered their price target on Sage Therapeutics from $34.00 to $19.00 and set a sector outperform rating on the stock in a research report on Thursday, April 18th. Finally, Wedbush restated a neutral rating and set 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, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $39.28.

Sage Therapeutics Stock Down 3.0 %

Sage Therapeutics stock opened at $13.58 on Thursday. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The business has a fifty day moving average price of $18.75 and a 200-day moving average price of $20.68.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same period in the previous year, the business earned ($2.46) earnings per share. Sage Therapeutics’s revenue was up 139.4% on a year-over-year basis. On average, research analysts predict that Sage Therapeutics will post -6.3 EPS for the current fiscal year.

Institutional Trading of Sage Therapeutics

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of Sage Therapeutics by 1,058.4% in the first 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 stake 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 worth $1,247,000 after purchasing an additional 5,068 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 worth $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after acquiring an additional 32,306 shares in the last quarter. 99.22% of the stock is 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.