Sage Therapeutics' (SAGE) "Hold" Rating Reiterated at Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "hold" rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Other analysts have also issued reports about the stock. Bank of America initiated coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Scotiabank dropped their price objective on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a report on Wednesday, February 12th. Wedbush restated a "neutral" rating and issued a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Finally, HC Wainwright reissued a "neutral" rating and issued a $12.00 price target (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Performance

Shares of SAGE stock remained flat at $7.79 during trading hours on Friday. The stock had a trading volume of 1,020,475 shares, compared to its average volume of 1,219,777. The business's fifty day moving average price is $7.52 and its 200 day moving average price is $6.75. The company has a market capitalization of $478.94 million, a price-to-earnings ratio of -1.18 and a beta of 0.48. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $14.71.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. On average, equities analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caligan Partners LP bought a new stake in Sage Therapeutics in the fourth quarter worth $16,575,000. Millennium Management LLC boosted its stake in shares of Sage Therapeutics by 8.3% in the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after purchasing an additional 124,720 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Sage Therapeutics during the 4th quarter worth approximately $7,540,000. Geode Capital Management LLC lifted its position in Sage Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock worth $6,827,000 after buying an additional 14,049 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Sage Therapeutics by 63.7% in the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after buying an additional 430,432 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company's stock.

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.