Sage Therapeutics (NASDAQ:SAGE) Trading 5.5% Higher

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) shares rose 5.5% during mid-day trading on Thursday . The company traded as high as $14.80 and last traded at $14.77. Approximately 234,495 shares traded hands during trading, a decline of 77% from the average daily volume of 1,013,349 shares. The stock had previously closed at $14.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush reiterated a "neutral" rating and set a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Bank of America downgraded shares of Sage Therapeutics from a "neutral" rating to an "underperform" rating and cut their price target for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Tuesday, March 26th. Oppenheimer decreased their target price on Sage Therapeutics from $25.00 to $17.00 and set a "market perform" rating on the stock in a research note on Thursday, April 18th. Finally, Morgan Stanley lifted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

The company has a market cap of $816.29 million, a P/E ratio of -1.50 and a beta of 0.86. The business has a 50 day moving average price of $18.75 and a two-hundred day moving average price of $20.68.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company's stock worth $107,181,000 after buying an additional 175,565 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company's stock valued at $135,257,000 after acquiring an additional 208,630 shares in the last quarter. Algert Global LLC purchased a new position in Sage Therapeutics during the 3rd quarter valued at $1,167,000. Rafferty Asset Management LLC raised its holdings in Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company's stock worth $8,477,000 after purchasing an additional 273,257 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Sage Therapeutics by 41.3% during the third quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company's stock valued at $1,849,000 after buying an additional 26,250 shares during the period. Hedge funds and other 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.