Sage Therapeutics (NASDAQ:SAGE) Shares Gap Up to $12.95

Sage Therapeutics, Inc. (NASDAQ:SAGE) gapped up prior to trading on Wednesday . The stock had previously closed at $12.95, but opened at $13.85. Sage Therapeutics shares last traded at $14.24, with a volume of 480,348 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SAGE shares. Morgan Stanley raised their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Oppenheimer reduced their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, April 18th. Scotiabank decreased their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. Finally, Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

The stock’s fifty day simple moving average is $19.22 and its 200-day simple moving average is $20.78. The stock has a market cap of $841.54 million, a P/E ratio of -1.56 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. During the same quarter last year, the company earned ($2.47) EPS. The company’s revenue was up 2621.5% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics, Inc. will post -6.3 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently added to or reduced their stakes in SAGE. Teacher Retirement System of Texas lifted its position in shares of Sage Therapeutics by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 698 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the period. CWM LLC boosted its position in Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares during the last quarter. Inspire Investing LLC grew its holdings in Sage Therapeutics by 8.4% during the 3rd quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 1,169 shares during the period. Finally, Swiss National Bank raised its position in shares of Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock worth $2,433,000 after acquiring an additional 1,200 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

About Sage Therapeutics

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.