Sage Therapeutics (NASDAQ:SAGE) Sees Unusually-High Trading Volume - Should You Buy?

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) saw an uptick in trading volume on Tuesday . 3,965,733 shares changed hands during 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 Analysts Forecast Growth

Several equities analysts have commented on SAGE shares. Robert W. Baird raised their price objective on Sage Therapeutics from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, June 20th. Piper Sandler cut shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $9.00 to $8.50 in a research report on Tuesday, June 17th. Canaccord Genuity Group boosted their price objective on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a research note on Tuesday, June 17th. Scotiabank cut shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $12.00 to $9.20 in a report on Tuesday, July 8th. Finally, Needham & Company LLC reiterated 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 issued a hold rating to the stock. According to data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $8.23.

Sage Therapeutics Price Performance

The stock has a market cap of $551.06 million, a price-to-earnings ratio of -1.52 and a beta of 0.29. The firm has a fifty day moving average of $8.11 and a 200 day moving average of $7.57.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The business had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same period last year, the company earned ($1.80) EPS. The business's revenue for the quarter was up 78.0% on a year-over-year basis. Research analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock worth $2,510,000 after buying an additional 10,116 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock valued at $405,000 after acquiring an additional 38,876 shares during the period. Teacher Retirement System of Texas grew its position in shares of Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock worth $75,000 after acquiring an additional 2,446 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at $49,000. Finally, Fox Run Management L.L.C. increased its holdings in shares of Sage Therapeutics by 199.0% in the 4th quarter. Fox Run Management L.L.C. now owns 48,950 shares of the biopharmaceutical company's stock valued at $266,000 after acquiring an additional 32,579 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.