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

Sage Therapeutics (NASDAQ:SAGE - Get Free Report)'s stock had its "hold" rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports.

A number of other brokerages have also issued reports on SAGE. Wall Street Zen lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Bank of America began coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.87.

Sage Therapeutics Price Performance

SAGE opened at $6.70 on Monday. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $13.47. The stock's 50 day simple moving average is $6.97 and its 200 day simple moving average is $6.87. The firm has a market cap of $419.56 million, a price-to-earnings ratio of -1.02 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The company had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. Sage Therapeutics's revenue was up 78.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.80) earnings per share. As a group, sell-side analysts anticipate that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Trading of Sage Therapeutics

Several hedge funds have recently made changes to their positions in SAGE. AlphaQuest LLC acquired a new position in Sage Therapeutics during the first quarter worth about $32,000. Picton Mahoney Asset Management raised its stake in shares of Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 3,581 shares during the period. Headlands Technologies LLC acquired a new position in Sage Therapeutics during the 1st quarter worth approximately $37,000. KLP Kapitalforvaltning AS purchased a new position in Sage Therapeutics in the 4th quarter valued at about $49,000. Finally, Ieq Capital LLC acquired a new stake in shares of Sage Therapeutics during the fourth quarter worth approximately $57,000. 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.

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