Sage Therapeutics (NASDAQ:SAGE) Trading Up 3.5%

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares were up 3.5% during trading on Tuesday . The stock traded as high as $11.32 and last traded at $11.32. Approximately 224,292 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,117,101 shares. The stock had previously closed at $10.94.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Scotiabank lowered their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. Bank of America lowered shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Sage Therapeutics from $28.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, Royal Bank of Canada lowered their target price on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.80.

Sage Therapeutics Stock Performance

The business’s 50-day moving average price is $11.41 and its 200-day moving average price is $17.61. The stock has a market cap of $706.21 million, a P/E ratio of -1.40 and a beta of 0.90.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. During the same period in the previous year, the firm earned ($2.46) EPS. The company’s revenue was up 139.4% on a year-over-year basis. As a group, equities research analysts expect that Sage Therapeutics, Inc. will post -6.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Sage Therapeutics in the 1st quarter worth $127,000. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 5,406 shares during the period. Virtu Financial LLC bought a new position in Sage Therapeutics in the 1st quarter worth $187,000. Quest Partners LLC bought a new position in Sage Therapeutics in the 4th quarter worth $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sage Therapeutics by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 2,967 shares during the period. Institutional investors 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.