Sage Therapeutics (NASDAQ:SAGE) Shares Gap Down to $15.63

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $15.63, but opened at $12.96. Sage Therapeutics shares last traded at $11.22, with a volume of 970,154 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SAGE. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. TD Cowen dropped their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Wedbush reiterated a “neutral” rating and set a $24.00 price objective on shares of Sage Therapeutics in a research report on Wednesday. Finally, Scotiabank dropped their price objective on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday. One 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 stock has an average rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Trading Up 3.7 %

The firm has a 50-day moving average of $20.06 and a 200 day moving average of $20.96.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. Sage Therapeutics’s revenue for the quarter was up 2621.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.47) EPS. Analysts predict that Sage Therapeutics, Inc. will post -6.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC bought a new position in Sage Therapeutics during the 1st quarter worth $34,000. CWM LLC grew its stake in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 883 shares during the last quarter. KBC Group NV bought a new position in Sage Therapeutics during the 4th quarter worth $28,000. China Universal Asset Management Co. Ltd. grew its stake in Sage Therapeutics by 95.5% during the 3rd 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 during the last quarter. Finally, XTX Topco Ltd acquired a new position in Sage Therapeutics during the 1st quarter worth $209,000. 99.22% of the stock is currently owned by institutional investors.

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.