Sage Therapeutics (NASDAQ:SAGE) Trading 5.5% Higher

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) shot up 5.5% during trading on Thursday . The stock traded as high as $14.80 and last traded at $14.77. 234,495 shares were traded during trading, a decline of 77% from the average session volume of 1,013,349 shares. The stock had previously closed at $14.00.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SAGE. Wedbush reaffirmed a “neutral” rating and set a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. HC Wainwright reduced their price target on shares of Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reduced their price target on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $37.72.

Sage Therapeutics Price Performance

The company’s 50 day simple moving average is $18.56 and its 200 day simple moving average is $20.64.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The business’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) EPS. Sell-side analysts forecast that Sage Therapeutics, Inc. will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SAGE. Teacher Retirement System of Texas lifted its position in Sage Therapeutics by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 698 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 acquiring an additional 748 shares during the last quarter. CWM LLC lifted its position in Sage Therapeutics by 274.2% in 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 lifted its position in Sage Therapeutics by 8.4% in the third quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Swiss National Bank lifted its position in Sage Therapeutics by 1.0% in the third quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock valued at $2,433,000 after acquiring an additional 1,200 shares during the last quarter. 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.