Sage Therapeutics (NASDAQ:SAGE) Trading 6.2% Higher

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares traded up 6.2% on Thursday . The stock traded as high as $13.50 and last traded at $13.35. 563,267 shares traded hands during trading, a decline of 43% from the average session volume of 989,738 shares. The stock had previously closed at $12.57.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America lowered shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $24.00 to $14.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. TD Cowen cut their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

The business’s 50-day simple moving average is $19.85 and its 200 day simple moving average is $20.91.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAGE. CWM LLC grew its holdings 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 last quarter. KBC Group NV bought a new stake in Sage Therapeutics in the fourth quarter valued at $28,000. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 748 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Sage Therapeutics in the first quarter valued at $34,000. Finally, Tower Research Capital LLC TRC boosted its holdings 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 in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.