Sage Therapeutics (NASDAQ:SAGE) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGEFree Report) in a research note released on Thursday, Benzinga reports.

A number of other brokerages have also recently weighed in on SAGE. TD Cowen reduced their price objective on Sage Therapeutics from $30.00 to $16.00 and set a buy rating for the company in a research note on Thursday. HC Wainwright reiterated a neutral rating and set a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Wedbush reaffirmed a neutral rating and issued a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday. Finally, Bank of America lowered Sage Therapeutics from a neutral rating to an underperform rating and lowered their price target for the stock from $24.00 to $14.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $39.28.

View Our Latest Stock Report on SAGE

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $13.33 on Thursday. The firm has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $20.86. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. Sage Therapeutics’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same period last year, the business earned ($2.47) EPS. As a group, sell-side analysts predict that Sage Therapeutics will post -6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted 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 valued at $1,247,000 after purchasing an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 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 valued at $4,358,000 after buying an additional 183,607 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after acquiring an additional 111,358 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after acquiring an additional 32,306 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Sage Therapeutics by 52.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after acquiring an additional 163,400 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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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