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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price 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. Scotiabank dropped their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Wedbush reissued a “neutral” rating and set a $24.00 price target on shares of Sage Therapeutics in a research report on Wednesday. Finally, TD Cowen lowered their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.28.

Sage Therapeutics Price Performance

The stock’s 50-day simple moving average is $20.06 and its 200 day simple moving average is $20.96.

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

Institutional Trading of Sage Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. increased its stake in Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after purchasing an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Sage Therapeutics by 1,049.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the period. Vanguard Group Inc. increased its stake in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. Fisher Asset Management LLC increased its stake in shares of Sage Therapeutics by 8.1% during the fourth 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. Finally, Goldman Sachs Group Inc. increased its stake in shares of Sage Therapeutics by 52.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after buying an additional 163,400 shares during the period. 99.22% of the stock is currently 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.