Quest Partners LLC Purchases 1,486 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Quest Partners LLC boosted its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 14.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,763 shares of the biopharmaceutical company’s stock after buying an additional 1,486 shares during the quarter. Quest Partners LLC’s holdings in Sage Therapeutics were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics during the first quarter worth about $127,000. Virtu Financial LLC purchased a new stake in Sage Therapeutics in the 1st quarter worth approximately $187,000. China Universal Asset Management Co. Ltd. lifted its holdings in Sage Therapeutics by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 4,617 shares during the period. ProShare Advisors LLC grew its position in shares of Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 1,130 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sage Therapeutics during the second quarter valued at approximately $177,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $7.57 on Tuesday. The company has a 50-day simple moving average of $9.33 and a two-hundred day simple moving average of $12.56. The stock has a market capitalization of $462.15 million, a PE ratio of -0.90 and a beta of 0.91. Sage Therapeutics, Inc. has a 52-week low of $7.19 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The business had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business’s revenue was up 249.8% compared to the same quarter last year. During the same period last year, the company posted ($2.68) earnings per share. As a group, equities research analysts forecast that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAGE has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. HC Wainwright reissued a “neutral” rating and issued a $25.00 price target on shares of Sage Therapeutics in a research note on Friday, August 2nd. Citigroup initiated coverage on Sage Therapeutics in a research report on Wednesday, May 29th. They set a “sell” rating and a $8.00 price objective on the stock. Finally, Scotiabank decreased their target price on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.06.

Sage Therapeutics Company 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.