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Small-Cap Snapshot: Sage rallies as postpartum depression treatment shows promise in clinical trial

AxoGen and NuVasive fall after reporting preliminary revenue figures trailing the consensus of analysts
An illustration of depression
In June, the FDA allowed Sage to expedite development of its postpartum depression treatment

SAGE Therapeutics Inc (NASDAQ:SAGE) rallied after the Cambridge, Massachusetts-based company said its postpartum depression treatment has shown promise in a clinical trial. After two weeks of outpatient treatment, patents showed statistically significant improvement on a rating scale for depression, according to Sage. In June, the Food and Drug Administration allowed the company to expedite development of its SAGE-217 treatment.

Shares rallied $39.62, or 41%, to $137.13.

READ: SAGE Therapeutics shares rocket after FDA clearance to expedite its depression post-partum drug

QEP Resources Inc (NYSE:QEP) gained as the Denver-based crude oil and natural gas exploration and production company confirmed that it had received a preliminary proposal from Elliott Management Corp to acquire the company for $8.75 per share in cash. QEP said its board intends to review the hedge fund's proposal and will consider the proposal in the context of the best interests of all shareholders. The board plans to take into account the company's other alternatives as well as current market conditions. QEP primarily operates in Texas, Louisiana and North Dakota.

Shares surged $2.49, or 41%, to $8.57.

AxoGen Inc (NASDAQ:AXGN) fell after publishing preliminary fourth-quarter revenue of $23.4 million, up 38% from a year earlier but less than the analyst consensus of $24.2 million. The Alachua, Florida-based company develops and markets surgical products for peripheral nerve injuries. AxoGen expects 2018 revenue of $83.9 million, up 39% from the prior year.

Shares declined $4.69, or 22%, to $16.59.

NuVasive Inc (NASDAQ:NUVA) dropped after reporting preliminary fourth-quarter revenue of about $288 million, less than the analyst consensus of $294 million. The San Diego company developer of spine surgery technology expects 2018 revenue of about $1.1 billion, up 7% from the prior year.

The stock decreased $3.94, or 7.9%, to $46.08.

The Russell 2000 index of small-cap stocks advanced 1.9% to 1,407.28 on Monday.

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