Sage Therapeutics (NASDAQ:SAGE) Trading 5.5% Higher

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares traded up 5.5% on Thursday . The company traded as high as $14.80 and last traded at $14.77. 234,495 shares traded hands during trading, a decline of 77% from the average session volume of 1,013,349 shares. The stock had previously closed at $14.00.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating for the company in a report on Friday. Morgan Stanley raised their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. TD Cowen decreased their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group decreased their price objective on shares of Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday. Finally, Scotiabank decreased their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.72.

Sage Therapeutics Stock Performance

The business’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $20.64.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The company’s revenue was up 139.4% on a year-over-year basis. During the same period in the prior year, the company posted ($2.46) earnings per share. Equities research analysts predict that Sage Therapeutics, Inc. will post -6.3 earnings per share for the current fiscal year.

Institutional Trading of Sage Therapeutics

Institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake 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 worth $25,000 after acquiring an additional 883 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 worth $32,000 after acquiring an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sage Therapeutics by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 1,375 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $219,000. Finally, Quest Partners LLC acquired a new stake in Sage Therapeutics during the fourth quarter valued at approximately $261,000. 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.