Needham & Company LLC Reiterates "Hold" Rating for Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

Several other brokerages have also recently commented on SAGE. Oppenheimer lowered their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating on the stock in a report on Wednesday, October 30th. Wedbush lowered their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Truist Financial lowered their price target on Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. TD Cowen lowered Sage Therapeutics from a "buy" rating to a "hold" rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.89.

Sage Therapeutics Stock Performance

Shares of SAGE stock remained flat at $4.91 during mid-day trading on Wednesday. The stock had a trading volume of 1,585,089 shares, compared to its average volume of 968,801. The company has a fifty day simple moving average of $6.85 and a 200-day simple moving average of $9.16. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $28.26. The stock has a market capitalization of $300.34 million, a PE ratio of -0.86 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share 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 during the quarter, compared to analyst estimates of $10.80 million. During the same period in the previous year, the company earned ($2.81) EPS. The business's revenue for the quarter was up 337.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sage Therapeutics will post -6.48 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company's stock valued at $15,217,000 after buying an additional 333,805 shares during the period. Vanguard Group Inc. grew its stake in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company's stock worth $107,781,000 after purchasing an additional 432,013 shares during the period. Virtu Financial LLC purchased a new position in shares of Sage Therapeutics in the 1st quarter valued at about $187,000. Bellevue Group AG boosted its holdings in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company's stock worth $83,684,000 after buying an additional 952,193 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Sage Therapeutics during the second quarter worth about $7,281,000. 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.