Sage Therapeutics (NASDAQ:SAGE) Hits New 52-Week High at $47.20

Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.20 and last traded at $47.20, with a volume of 2665 shares trading hands. The stock had previously closed at $45.31.

Analysts Set New Price Targets

Several brokerages have issued reports on SAGE. HC Wainwright lowered their target price on Sage Therapeutics from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 9th. Guggenheim cut Sage Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 3rd. Morgan Stanley reduced their price target on Sage Therapeutics from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. Loop Capital assumed coverage on Sage Therapeutics in a research report on Tuesday, November 1st. They issued a “hold” rating and a $41.00 price target for the company. Finally, StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.29.

Sage Therapeutics Stock Up 0.6 %

The company has a 50-day moving average of $38.74 and a 200 day moving average of $38.45. The firm has a market capitalization of $2.71 billion, a PE ratio of -5.28 and a beta of 1.17.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last posted its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($2.31) EPS for the quarter, missing the consensus estimate of ($2.16) by ($0.15). The business had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $1.68 million. Sage Therapeutics had a negative return on equity of 32.76% and a negative net margin of 7,895.27%. As a group, equities analysts anticipate that Sage Therapeutics, Inc. will post -8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several institutional investors have recently modified their holdings of SAGE. Point72 Asset Management L.P. increased its position in shares of Sage Therapeutics by 185.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,259,300 shares of the biopharmaceutical company’s stock valued at $40,675,000 after purchasing an additional 818,300 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sage Therapeutics by 252.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock valued at $35,733,000 after purchasing an additional 792,819 shares during the last quarter. State Street Corp increased its position in shares of Sage Therapeutics by 30.8% during the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock valued at $93,850,000 after purchasing an additional 666,826 shares during the last quarter. BlackRock Inc. increased its position in shares of Sage Therapeutics by 13.7% during the 3rd quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock valued at $188,833,000 after purchasing an additional 580,250 shares during the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Sage Therapeutics during the 3rd quarter valued at about $17,419,000. 85.60% of the stock is currently owned by institutional investors.

About Sage Therapeutics

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