Hennion & Walsh Asset Management Inc. Grows Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Hennion & Walsh Asset Management Inc. increased its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,567 shares of the biopharmaceutical company’s stock after purchasing an additional 5,068 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.11% of Sage Therapeutics worth $1,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAGE. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after buying an additional 183,607 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Caxton Associates LP grew its position in shares of Sage Therapeutics by 76.1% during the fourth quarter. Caxton Associates LP now owns 119,781 shares of the biopharmaceutical company’s stock valued at $2,596,000 after purchasing an additional 51,746 shares in the last quarter. Finally, Pennant Investors LP bought a new stake in shares of Sage Therapeutics in the fourth quarter worth about $379,000. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $10.86 on Monday. The company’s 50-day simple moving average is $11.86 and its two-hundred day simple moving average is $18.22. Sage Therapeutics, Inc. has a one year low of $9.76 and a one year high of $49.74.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s revenue for the quarter was up 139.4% compared to the same quarter last year. During the same period last year, the company earned ($2.46) EPS. On average, analysts anticipate that Sage Therapeutics, Inc. will post -6.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SAGE. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Royal Bank of Canada lowered their price objective on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced their target price on shares of Sage Therapeutics from $28.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Friday. Finally, Scotiabank dropped their price target on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.80.

Sage Therapeutics Profile

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.