Sage Therapeutics (SAGE) Stock Soars on First Trading Day After IPO

NEW YORK (TheStreet) -- Sage Therapeutics  (SAGE) soared more than 60% on Friday, its first day of trading after the company's IPO.

Sage, which develops medicines to treat rare, life-threatening central nervous system disorders, priced its initial public offering of 5 million shares at $18 a share, the high end of the expected $17 to $18 range.

The stock opened at $27 and hit a high of $30.51 as of 11:37 a.m., by which point more than 3.3 million shares had changed hands.

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SAGE Price Chart SAGE Price data by YCharts

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