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

Needham & Company LLC restated their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) in a report published on Monday,Benzinga reports.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen cut shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Bank of America began coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.93.

Sage Therapeutics Trading Up 0.1%

Shares of SAGE stock traded up $0.01 during trading hours on Monday, reaching $9.13. 2,872,336 shares of the stock were exchanged, compared to its average volume of 1,279,520. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $13.47. The company's 50-day moving average price is $7.11 and its 200-day moving average price is $6.93. The firm has a market capitalization of $571.72 million, a price-to-earnings ratio of -1.57 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $14.06 million for the quarter, compared to analysts' expectations of $14.12 million. During the same period in the prior year, the firm posted ($1.80) earnings per share. Sage Therapeutics's revenue for the quarter was up 78.0% on a year-over-year basis. On average, sell-side analysts expect that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Trading of Sage Therapeutics

Large investors have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in shares of Sage Therapeutics by 8.3% in the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after acquiring an additional 124,720 shares during the last quarter. ProShare Advisors LLC grew its position in Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after buying an additional 4,350 shares during the period. Thrivent Financial for Lutherans grew its position in Sage Therapeutics by 108.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock valued at $405,000 after buying an additional 38,876 shares during the period. BNP Paribas Financial Markets grew its position in Sage Therapeutics by 9.3% during the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock valued at $421,000 after buying an additional 6,574 shares during the period. Finally, Jane Street Group LLC grew its position in Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after buying an additional 234,528 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.