Sage Therapeutics (NASDAQ:SAGE) Sees Strong Trading Volume - Here's Why

Key Points

• Sage Therapeutics experienced unusual trading volume with 1,453,376 shares traded, down 21% from the previous session.
• Analyst ratings are mixed, with Robert W. Baird raising the target price to $9.00 while Scotiabank downgraded the stock from "strong-buy" to "hold" with a new target of $9.20.
• The company reported a quarterly revenue of $14.06 million, a 78% increase year-over-year, but missed earnings expectations with a loss of ($1.01) per share.

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) saw an uptick in trading volume on Tuesday . 1,453,376 shares changed hands during mid-day trading, a decline of 21% from the previous session's volume of 1,840,177 shares.The stock last traded at $8.74 and had previously closed at $8.78.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SAGE. Piper Sandler cut shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $8.50 in a research note on Tuesday, June 17th. HC Wainwright reiterated a "neutral" rating and issued a $12.00 price target on shares of Sage Therapeutics in a research note on Tuesday, June 17th. Canaccord Genuity Group upped their price target 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. Truist Financial set a $9.00 target price on Sage Therapeutics and gave the stock a "hold" rating in a research report on Tuesday, June 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to MarketBeat, Sage Therapeutics currently has an average rating of "Hold" and a consensus price target of $8.02.

Sage Therapeutics Stock Performance

The stock has a market cap of $543.54 million, a PE ratio of -1.78 and a beta of 0.26. The company's 50-day moving average price is $8.33 and its 200 day moving average price is $7.66.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.17. Sage Therapeutics had a negative net margin of 427.78% and a negative return on equity of 67.10%. The firm had revenue of $31.66 million during the quarter, compared to analyst estimates of $16.69 million. During the same quarter in the prior year, the firm earned ($1.70) EPS. The business's revenue for the quarter was up 266.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. AlphaQuest LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth approximately $37,000. KLP Kapitalforvaltning AS purchased a new stake in Sage Therapeutics in the 4th quarter worth approximately $49,000. GAMMA Investing LLC increased its holdings in Sage Therapeutics by 16,118.0% in the 1st quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company's stock worth $64,000 after acquiring an additional 8,059 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth approximately $83,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.