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

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s stock price gapped down prior to trading 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 trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on SAGE. Royal Bank of Canada increased their price target on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective 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. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. HC Wainwright lifted their price objective on Sage Therapeutics from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley boosted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.00.

Sage Therapeutics Stock Down 21.9 %

The firm’s 50-day moving average price is $20.47 and its 200-day moving average price is $21.05.

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 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 period last year, the company posted ($2.47) earnings per share. The firm’s revenue was up 2621.5% compared to the same quarter last year. Research analysts forecast that Sage Therapeutics, Inc. will post -6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of large investors have recently added to or reduced their stakes in SAGE. CWM LLC grew its stake in shares of Sage Therapeutics by 274.2% during the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares in the last quarter. KBC Group NV bought a new stake in shares of Sage Therapeutics in the fourth quarter worth $28,000. China Universal Asset Management Co. Ltd. raised its holdings 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 acquiring an additional 748 shares in the last quarter. MetLife Investment Management LLC bought a new position in Sage Therapeutics during the 1st quarter valued at $34,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Sage Therapeutics by 74.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 2,148 shares in the last quarter. 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.