Sage Therapeutics (NASDAQ:SAGE) Shares Gap Down to $15.63

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.63, but opened at $12.96. Sage Therapeutics shares last traded at $11.22, with a volume of 970,154 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SAGE shares. Royal Bank of Canada upped their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. HC Wainwright raised their price objective on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. boosted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Fifteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

Sage Therapeutics Price Performance

The business’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $21.05.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s quarterly revenue was up 2621.5% on a year-over-year basis. During the same quarter last year, the firm posted ($2.47) EPS. Equities research analysts expect that Sage Therapeutics, Inc. will post -6.06 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the period. KBC Group NV acquired a new stake in Sage Therapeutics during the fourth quarter worth about $28,000. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $34,000. Finally, Tower Research Capital LLC TRC increased its stake in Sage Therapeutics by 74.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 2,148 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.