Sage Therapeutics, Inc. (NASDAQ:SAGE) Short Interest Down 24.6% in December

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 4,830,000 shares, a drop of 24.6% from the December 15th total of 6,410,000 shares. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is currently 4.7 days. Currently, 9.0% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms recently commented on SAGE. Stifel Nicolaus decreased their price objective on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, December 16th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Bank of America reduced their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Finally, Scotiabank cut their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and a consensus target price of $10.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SAGE. Geode Capital Management LLC grew its stake in shares of Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after acquiring an additional 3,757 shares in the last quarter. State Street Corp lifted its stake in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the period. RTW Investments LP boosted its stake in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after acquiring an additional 111,123 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Sage Therapeutics during the 3rd quarter worth approximately $208,000. Finally, Martingale Asset Management L P boosted its position in Sage Therapeutics by 55.1% in the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 16,717 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Stock Down 2.4 %

SAGE stock traded down $0.18 during trading hours on Wednesday, hitting $7.26. The company’s stock had a trading volume of 4,396,603 shares, compared to its average volume of 3,200,416. The stock has a 50 day moving average price of $5.64 and a two-hundred day moving average price of $7.53. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.67. The company has a market capitalization of $444.12 million, a PE ratio of -1.30 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same period in the prior year, the firm earned ($2.81) EPS. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. Sell-side analysts expect that Sage Therapeutics will post -6.53 earnings per share for the current year.

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.