Sage Therapeutics (NASDAQ:SAGE) Shares Gap Up to $12.95

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $12.95, but opened at $13.85. Sage Therapeutics shares last traded at $14.24, with a volume of 480,348 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SAGE. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Thursday, April 18th. Royal Bank of Canada increased their target price on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. HC Wainwright reiterated a “neutral” rating and set a $28.00 price target on shares of Sage Therapeutics in a report on Wednesday, April 17th. Scotiabank reduced their price objective on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

The company has a market cap of $841.54 million, a price-to-earnings ratio of -1.56 and a beta of 0.86. The firm’s 50 day simple moving average is $19.22 and its 200-day simple moving average is $20.78.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm’s quarterly revenue was up 2621.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.47) earnings per share. As a group, sell-side analysts expect that Sage Therapeutics, Inc. will post -6.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas lifted its stake in Sage Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,278 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 698 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Sage Therapeutics by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares in the last quarter. CWM LLC increased its position in shares of Sage Therapeutics by 274.2% in the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. Inspire Investing LLC boosted its holdings in Sage Therapeutics by 8.4% in the third quarter. Inspire Investing LLC now owns 15,049 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Sage Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the biopharmaceutical company’s stock valued at $2,433,000 after buying an additional 1,200 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.