Sage Therapeutics (NASDAQ:SAGE) Sees Large Volume Increase

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw an uptick in trading volume on Tuesday . 20,202 shares traded hands during mid-day trading, a decline of 96% from the previous session’s volume of 492,795 shares.The stock last traded at $79.88 and had previously closed at $77.89.

Several analysts recently issued reports on the company. Raymond James assumed coverage on Sage Therapeutics in a research report on Monday, February 1st. They set a “market perform” rating for the company. Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $83.00 to $86.00 in a report on Monday, January 4th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Sage Therapeutics from $83.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. TheStreet upgraded Sage Therapeutics from a “d-” rating to a “c-” rating in a report on Friday, March 19th. Finally, Mizuho restated a “neutral” rating and set a $81.00 price target on shares of Sage Therapeutics in a report on Thursday, March 4th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $87.06.

The stock has a market cap of $4.55 billion, a PE ratio of -7.53 and a beta of 2.23. The business has a 50 day moving average price of $78.23 and a 200 day moving average price of $77.24.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, February 24th. The biopharmaceutical company reported $18.19 EPS for the quarter, topping analysts’ consensus estimates of ($2.17) by $20.36. Sage Therapeutics had a negative return on equity of 63.81% and a negative net margin of 7,706.84%. As a group, equities analysts predict that Sage Therapeutics, Inc. will post -8.83 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of Sage Therapeutics by 22.2% in the fourth quarter. Janus Henderson Group PLC now owns 1,978,811 shares of the biopharmaceutical company’s stock worth $171,190,000 after buying an additional 359,110 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Sage Therapeutics by 11.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,592,933 shares of the biopharmaceutical company’s stock valued at $137,805,000 after acquiring an additional 159,484 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Sage Therapeutics by 28.7% during the fourth quarter. Jennison Associates LLC now owns 563,968 shares of the biopharmaceutical company’s stock valued at $48,789,000 after acquiring an additional 125,603 shares during the last quarter. Norges Bank acquired a new position in shares of Sage Therapeutics during the fourth quarter valued at approximately $44,045,000. Finally, Artal Group S.A. raised its holdings in shares of Sage Therapeutics by 79.9% during the fourth quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $34,604,000 after acquiring an additional 177,700 shares during the last quarter.

About Sage Therapeutics (NASDAQ:SAGE)

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone for the treatment of postpartum depression (PPD). The company's product pipeline also includes SAGE-217, a novel neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and generalized anxiety disorders; and SAGE-324, a novel compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epileptiform disorders and Parkinson's diseases.

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