Sage Therapeutics (NASDAQ:SAGE) Now Covered by Analysts at Needham & Company LLC

Investment analysts at Needham & Company LLC began coverage on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note issued on Wednesday, Analyst Ratings Network reports. The brokerage set a “buy” rating and a $84.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 81.82% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of Sage Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $101.00 to $68.00 in a research report on Wednesday, June 16th. reissued a “neutral” rating and set a $68.00 target price (down from $101.00) on shares of Sage Therapeutics in a research report on Wednesday, June 16th. TheStreet downgraded shares of Sage Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, August 9th. SVB Leerink reduced their target price on shares of Sage Therapeutics from $90.00 to $70.00 and set a “market perform” rating for the company in a research report on Wednesday, June 16th. Finally, HC Wainwright reduced their target price on shares of Sage Therapeutics from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, August 4th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and an average price target of $81.50.

Shares of SAGE stock opened at $46.20 on Wednesday. Sage Therapeutics has a 52-week low of $39.77 and a 52-week high of $98.39. The company has a 50-day simple moving average of $44.41 and a two-hundred day simple moving average of $60.93. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 3.64 and a beta of 1.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, August 3rd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.69) by ($0.14). Sage Therapeutics had a negative return on equity of 26.50% and a net margin of 59.79%. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.01 million. During the same period in the previous year, the company posted ($2.63) earnings per share. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. As a group, research analysts predict that Sage Therapeutics will post -7.25 earnings per share for the current fiscal year.

In other news, CEO Barry E. Greene bought 23,640 shares of the stock in a transaction on Thursday, August 5th. The shares were acquired at an average cost of $43.15 per share, for a total transaction of $1,020,066.00. Following the purchase, the chief executive officer now directly owns 32,440 shares of the company’s stock, valued at approximately $1,399,786. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc. lifted its stake in Sage Therapeutics by 9.6% in the 1st quarter. TD Asset Management Inc. now owns 60,700 shares of the biopharmaceutical company’s stock worth $4,543,000 after purchasing an additional 5,306 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Sage Therapeutics during the 1st quarter valued at $105,000. Teacher Retirement System of Texas raised its position in shares of Sage Therapeutics by 17.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,858 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 1,019 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Sage Therapeutics by 41.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,769 shares of the biopharmaceutical company’s stock valued at $611,000 after buying an additional 3,148 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in shares of Sage Therapeutics during the 1st quarter valued at $386,000. Institutional investors and hedge funds own 84.72% of the company’s stock.

Sage Therapeutics Company Profile

SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

Featured Story: Dead Cat Bounce

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

Receive News & Ratings for Sage Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sage Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.