Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) saw an uptick in trading volume on Tuesday . 3,965,733 shares were traded during mid-day trading, an increase of 191% from the previous session's volume of 1,361,513 shares.The stock last traded at $8.80 and had previously closed at $8.97.
Wall Street Analyst Weigh In
Several research analysts have weighed in on SAGE shares. Canaccord Genuity Group increased their price objective on Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a research report on Tuesday, June 17th. Scotiabank cut Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $12.00 to $9.20 in a research report on Tuesday, July 8th. Piper Sandler cut Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $9.00 to $8.50 in a research report on Tuesday, June 17th. Wall Street Zen lowered Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a report on Monday, June 16th. Two analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat, Sage Therapeutics has a consensus rating of "Hold" and a consensus target price of $8.23.
Check Out Our Latest Stock Report on Sage Therapeutics
Sage Therapeutics Stock Performance
The firm has a market capitalization of $548.87 million, a P/E ratio of -1.51 and a beta of 0.29. The business has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $7.53.
Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The company had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. Sage Therapeutics's revenue was up 78.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.80) earnings per share. On average, equities analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of SAGE. Teacher Retirement System of Texas lifted its position in shares of Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after buying an additional 2,446 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Sage Therapeutics during the 1st quarter valued at about $32,000. ProShare Advisors LLC raised its stake in Sage Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 4,350 shares during the period. Invesco Ltd. raised its stake in Sage Therapeutics by 5.3% during the 4th quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after purchasing an additional 4,629 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Sage Therapeutics during the 1st quarter valued at approximately $37,000. 99.22% of the stock is owned by hedge funds and other institutional investors.
Sage Therapeutics Company Profile
(
Get Free Report)
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.
Further Reading
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