Sage Therapeutics (NASDAQ:SAGE) Earns “Hold” Rating from Needham & Company LLC

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a report issued on Monday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Bank of America initiated coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 target price for the company. Wall Street Zen cut Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 7th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Stock Performance

SAGE opened at $9.12 on Monday. The company has a market cap of $571.09 million, a PE ratio of -1.57 and a beta of 0.18. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $13.47. The firm has a 50 day moving average price of $7.07 and a 200 day moving average price of $6.91.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The business had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same period in the previous year, the company earned ($1.80) EPS. Sage Therapeutics’s revenue was up 78.0% on a year-over-year basis. On average, sell-side analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Sage Therapeutics during the 4th quarter valued at about $91,000. Ieq Capital LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at approximately $57,000. US Bancorp DE grew its holdings in shares of Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 2,268 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sage Therapeutics by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock worth $2,510,000 after purchasing an additional 10,116 shares during the last quarter. Finally, Amundi acquired a new position in Sage Therapeutics during the 4th quarter valued at approximately $166,000. 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.