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

Sage Therapeutics, Inc. (NASDAQ:SAGE) 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SAGE shares. Bank of America lowered shares of 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 note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Scotiabank decreased their target price on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Oppenheimer decreased their target price on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada lifted their target price on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Stock Down 3.0 %

The firm has a fifty day moving average of $18.75 and a two-hundred day moving average of $20.68.

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

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in Sage Therapeutics by 274.2% in the third 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. China Universal Asset Management Co. Ltd. grew its stake in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Sage Therapeutics during the third quarter worth about $219,000. Finally, Quest Partners LLC purchased a new stake in shares of Sage Therapeutics during the fourth quarter worth about $261,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.