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

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report)'s stock price gapped up before the market opened 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 brokerages have issued reports on SAGE. Bank of America downgraded shares of Sage Therapeutics from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Scotiabank reduced their target price on Sage Therapeutics from $34.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 18th. TD Cowen dropped their price target on Sage Therapeutics from $30.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. Oppenheimer cut their price target on Sage Therapeutics from $25.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, April 18th. Finally, Royal Bank of Canada increased their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Sage Therapeutics has a consensus rating of "Hold" and an average price target of $39.28.

Sage Therapeutics Stock Up 8.1 %

The stock has a market cap of $841.50 million, a PE ratio of -1.55 and a beta of 0.86. The company's fifty day moving average is $19.22 and its 200 day moving average is $20.78.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts' consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. During the same quarter last year, the firm posted ($2.47) EPS. The business's revenue for the quarter was up 2621.5% compared to the same quarter last year. Equities analysts expect that Sage Therapeutics, Inc. will post -6.3 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of large investors have recently modified their holdings of SAGE. CWM LLC boosted its holdings in Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 883 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sage Therapeutics by 17.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company's stock valued at $191,000 after purchasing an additional 1,375 shares in the last quarter. Values First Advisors Inc. purchased a new position in Sage Therapeutics in the 3rd quarter valued at about $219,000. Finally, Quest Partners LLC acquired a new stake in shares of Sage Therapeutics during the fourth quarter valued at about $261,000. 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.