Sage Therapeutics (NASDAQ:SAGE) Trading 6.2% Higher

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s stock price shot up 6.2% on Thursday . The stock traded as high as $13.50 and last traded at $13.35. 563,267 shares were traded during trading, a decline of 43% from the average session volume of 989,738 shares. The stock had previously closed at $12.57.

Analyst Ratings Changes

Several research firms have recently weighed in on SAGE. Scotiabank decreased their target price on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday. Bank of America downgraded Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $24.00 to $14.00 in a research report on Wednesday. TD Cowen decreased their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Wedbush restated a “neutral” rating and set a $24.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Stock Up 2.3 %

The firm has a fifty day simple moving average of $19.85 and a two-hundred day simple moving average of $20.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s quarterly revenue was up 2621.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.47) earnings per share. Sell-side analysts forecast that Sage Therapeutics, Inc. will post -6.06 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Sage Therapeutics by 3.5% during the fourth quarter. Amalgamated Bank now owns 6,964 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 235 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Sage Therapeutics by 9.0% during the second quarter. Captrust Financial Advisors now owns 6,091 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 502 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Sage Therapeutics by 1.0% during the second quarter. Alliancebernstein L.P. now owns 61,100 shares of the biopharmaceutical company’s stock worth $2,873,000 after purchasing an additional 600 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Sage Therapeutics by 4.8% during the third 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. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 748 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.