SAGE Therapeutics Inc (NASDAQ:SAGE) fell 10.2% during mid-day trading on Tuesday . The company traded as low as $107.32 and last traded at $109.03. 878,026 shares were traded during trading, an increase of 77% from the average session volume of 496,796 shares. The stock had previously closed at $121.44.

A number of brokerages recently issued reports on SAGE. Royal Bank of Canada increased their price target on SAGE Therapeutics from $259.00 to $261.00 and gave the stock an “outperform” rating in a research report on Monday, November 5th. JPMorgan Chase & Co. set a $205.00 price target on SAGE Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, November 6th. LADENBURG THALM/SH SH set a $235.00 price target on SAGE Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Canaccord Genuity set a $220.00 price target on SAGE Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, BidaskClub raised SAGE Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. SAGE Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $197.27.

The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -15.38 and a beta of 2.76.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($2.63) earnings per share for the quarter, missing the consensus estimate of ($2.41) by ($0.22). During the same period in the previous year, the company posted ($1.97) earnings per share. Sell-side analysts anticipate that SAGE Therapeutics Inc will post -7.54 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC lifted its stake in SAGE Therapeutics by 1,900.0% during the second quarter. Flinton Capital Management LLC now owns 680 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 646 shares during the last quarter. US Bancorp DE lifted its stake in shares of SAGE Therapeutics by 5,593.3% in the 2nd quarter. US Bancorp DE now owns 854 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 839 shares during the last quarter. Creative Planning bought a new position in shares of SAGE Therapeutics in the 2nd quarter valued at $210,000. Atria Investments LLC bought a new position in shares of SAGE Therapeutics in the 2nd quarter valued at $218,000. Finally, Tiverton Asset Management LLC bought a new position in shares of SAGE Therapeutics in the 2nd quarter valued at $229,000.

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About SAGE Therapeutics (NASDAQ:SAGE)

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).

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