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

by · The Cerbat Gem

Sage Therapeutics (NASDAQ:SAGE – Get Free Report)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Several other equities research analysts have also commented on SAGE. Bank of America decreased their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Wedbush reduced their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group dropped their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Scotiabank cut their price objective on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $16.00 to $10.00 in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.76.

Read Our Latest Research Report on Sage Therapeutics

Sage Therapeutics Trading Down 1.2 %

NASDAQ:SAGE opened at $7.18 on Thursday. Sage Therapeutics has a 12-month low of $5.84 and a 12-month high of $28.26. The stock’s 50 day simple moving average is $7.59 and its 200-day simple moving average is $10.60. The firm has a market cap of $432.11 million, a P/E ratio of -0.87 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The business had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $8.85 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business’s quarterly revenue was up 249.8% on a year-over-year basis. During the same period last year, the company posted ($2.68) earnings per share. Research analysts forecast that Sage Therapeutics will post -6.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Sage Therapeutics by 8.1% during the first 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 last quarter. Bellevue Group AG grew its stake in shares of Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after buying an additional 333,805 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics in the 2nd quarter worth $7,281,000. Finally, Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

(Get Free Report)

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.

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