Sage Therapeutics (NASDAQ:SAGE) Trading Up 6.2%

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

Wall Street Analysts Forecast Growth

SAGE has been the topic of a number of recent research reports. Oppenheimer lowered their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday. Wedbush reiterated a “neutral” rating and issued a $24.00 price objective on shares of Sage Therapeutics in a report on Wednesday. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Scotiabank lowered their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Sage Therapeutics from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Stock Up 3.7 %

The company has a 50 day moving average price of $20.06 and a 200-day moving average price of $20.96. The company has a market cap of $783.83 million, a price-to-earnings ratio of -1.47 and a beta of 0.86.

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

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Sage Therapeutics by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after buying an additional 175,565 shares during the last quarter. Wellington Management Group LLP raised its position in Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares during the last quarter. Algert Global LLC purchased a new stake in Sage Therapeutics in the 3rd quarter valued at $1,167,000. Rafferty Asset Management LLC raised its position in Sage Therapeutics by 197.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after buying an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after purchasing an additional 26,250 shares during the last quarter. 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.