Sage Therapeutics (NASDAQ:SAGE) Shares Gap Up - Should You Buy?

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $6.70, but opened at $9.09. Sage Therapeutics shares last traded at $9.08, with a volume of 12,255,660 shares changing hands.

Analyst Ratings Changes

SAGE has been the subject of several research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Monday. Wall Street Zen lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Finally, Bank of America started coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.87.

Sage Therapeutics Stock Up 35.6%

The firm's 50-day simple moving average is $6.97 and its 200-day simple moving average is $6.87. The firm has a market capitalization of $568.91 million, a PE ratio of -1.38 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.02). The company had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Sage Therapeutics's quarterly revenue was up 78.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.80) earnings per share. On average, equities research analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Caligan Partners LP purchased a new stake in Sage Therapeutics during the 4th quarter valued at about $16,575,000. TIG Advisors LLC purchased a new stake in shares of Sage Therapeutics during the first quarter valued at $21,722,000. Boothbay Fund Management LLC purchased a new position in Sage Therapeutics in the 4th quarter worth about $7,540,000. ADAR1 Capital Management LLC raised its holdings in shares of Sage Therapeutics by 3,767.2% during the first quarter. ADAR1 Capital Management LLC now owns 742,495 shares of the biopharmaceutical company's stock valued at $5,903,000 after purchasing an additional 723,295 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Sage Therapeutics in the 1st quarter worth approximately $4,757,000. 99.22% of the stock is currently owned by 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.

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