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

Sage Therapeutics (NASDAQ:SAGEGet Free Report)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports.

Several other research firms also recently commented on SAGE. Morgan Stanley boosted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Canaccord Genuity Group cut their price objective on Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Truist Financial reduced their target price on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, April 26th. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Sage Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus price target of $35.05.

Get Our Latest Stock Analysis on SAGE

Sage Therapeutics Stock Up 3.0 %

SAGE stock opened at $10.90 on Tuesday. The business’s 50-day moving average price is $13.15 and its 200-day moving average price is $19.12. The stock has a market cap of $655.96 million, a P/E ratio of -1.30 and a beta of 0.92. Sage Therapeutics has a twelve month low of $10.19 and a twelve month high of $59.99.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. Sage Therapeutics’s revenue was up 139.4% on a year-over-year basis. On average, equities research analysts expect that Sage Therapeutics will post -6.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Sage Therapeutics in the 1st quarter valued at about $187,000. Baker BROS. Advisors LP purchased a new stake in shares of Sage Therapeutics in the first quarter valued at approximately $7,631,000. Bellevue Group AG boosted its holdings in shares of Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 333,805 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Sage Therapeutics during the 1st quarter valued at $127,000. Institutional investors own 99.22% of the company’s stock.

About Sage Therapeutics

(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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Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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