Sage Therapeutics (NASDAQ:SAGE) Shares Up 6.1%

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares rose 6.1% on Monday . The company traded as high as $8.66 and last traded at $8.64. Approximately 254,630 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,079,476 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SAGE shares. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research note on Friday, August 2nd. Citigroup assumed coverage on shares of Sage Therapeutics in a research report on Wednesday, May 29th. They set a “sell” rating and a $8.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, Mizuho dropped their price target on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.06.

Sage Therapeutics Stock Up 7.4 %

The company has a market cap of $533.58 million, a price-to-earnings ratio of -1.03 and a beta of 0.90. The business has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $14.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same quarter last year, the firm posted ($2.68) earnings per share. The firm’s revenue for the quarter was up 249.8% compared to the same quarter last year. As a group, equities analysts anticipate that Sage Therapeutics, Inc. will post -6.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC lifted its position in shares of Sage Therapeutics by 152.0% during the 2nd quarter. Algert Global LLC now owns 64,844 shares of the biopharmaceutical company’s stock worth $704,000 after purchasing an additional 39,114 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Sage Therapeutics during the second quarter worth approximately $242,000. AQR Capital Management LLC acquired a new position in shares of Sage Therapeutics during the second quarter worth approximately $1,008,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Sage Therapeutics by 5,420.5% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,806 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 21,411 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after acquiring an additional 287,549 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.