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

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) gapped up prior to trading 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.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SAGE. JPMorgan Chase & Co. boosted their price objective on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. HC Wainwright restated a “neutral” rating and issued a $28.00 price objective on shares of Sage Therapeutics in a report on Wednesday, April 17th. TD Cowen lowered 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. Oppenheimer lowered their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $39.28.

Sage Therapeutics Trading Down 3.0 %

The stock’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $20.68.

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

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of Sage Therapeutics by 1,058.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after buying an additional 143,075 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Sage Therapeutics by 8.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after buying an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after buying an additional 183,607 shares during the period. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after buying an additional 111,358 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after buying an additional 32,306 shares during the period. 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.