Sage Therapeutics, Inc. (NASDAQ:SAGE) Closes Stock Offering

Sage Therapeutics, Inc. (NASDAQ:SAGE), a clinical-stage biopharmaceutical company, said Tuesday it has closed its underwritten public offering of 2.6 million shares of common stock, including over-allotments, at a public offering price of $52.50 per share, or for gross proceeds of approximately $138 million.

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares opened the most recent trading session at 61.98 and at the time of writing the last Bid was at 60.53. In the current trading session the stock reached as high as 61.98 and dipped down to 59.64. Sage Therapeutics, Inc., a NGM listed company, has a current market cap of 1.56B and on average over the past 3 months has seen 268166 shares trade hands on a daily basis.

On a technical level the stock has a 50 Day Moving Average of 49.44. Based on a recent trade, this puts the equity at +22.43% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -3.92% away from its 52-week high of 63.00 and +149.61% away from the stock’s low point over the past 52 weeks, which was 24.25.

There are a number of Wall Street research brokerages which cover the stock and offer projections on earnings and future stock movement. On a consensus basis, analysts have a one year target price of 62.40. The company’s trailing twelve month (ttm) EPS stands at -1.67. The consensus analyst estimates according to First Call for the next quarter is -0.54. The current year EPS estimate on the stock is -2.36 and the EPS estimate for next year sits at -2.80.

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