Sage Therapeutics (NASDAQ:SAGE) Shares Up 6.2%

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) was up 6.2% during mid-day trading on Thursday . The stock traded as high as $13.50 and last traded at $13.35. Approximately 563,267 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 989,738 shares. The stock had previously closed at $12.57.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 28th. Bank of America cut shares of Sage Therapeutics from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $24.00 to $14.00 in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research note on Thursday. Royal Bank of Canada raised their price target on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 15th. Finally, TD Cowen decreased their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday. One 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.28.

Sage Therapeutics Stock Up 3.7 %

The company's 50 day moving average price is $20.06 and its 200-day moving average price is $20.96. The stock has a market cap of $783.53 million, a P/E ratio of -1.44 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings data 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. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company had revenue of $77.97 million during the quarter, compared to analysts' expectations of $60.15 million. During the same period in the prior year, the company posted ($2.47) earnings per share. Sage Therapeutics's revenue for the quarter was up 2621.5% compared to the same quarter last year. Equities research analysts anticipate that Sage Therapeutics, Inc. will post -6.06 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company's stock worth $1,247,000 after buying an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company's stock worth $4,358,000 after purchasing an additional 183,607 shares during the period. Vanguard Group Inc. grew its holdings in Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company's stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Sage Therapeutics by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company's stock valued at $9,360,000 after buying an additional 32,306 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Sage Therapeutics by 52.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company's stock valued at $10,326,000 after buying an additional 163,400 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.