Headlands Technologies LLC Purchases 2,782 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Headlands Technologies LLC grew its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 245.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,916 shares of the biopharmaceutical company’s stock after purchasing an additional 2,782 shares during the period. Headlands Technologies LLC’s holdings in Sage Therapeutics were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Sage Therapeutics during the 1st quarter worth about $127,000. Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares during the last quarter. SG Americas Securities LLC acquired a new position in Sage Therapeutics during the second quarter valued at approximately $177,000. Virtu Financial LLC bought a new stake in Sage Therapeutics during the first quarter worth $187,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 4,617 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SAGE has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a report on Friday, August 2nd. Citigroup assumed coverage on Sage Therapeutics in a report on Wednesday, May 29th. They issued a “sell” rating and a $8.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, August 1st. Finally, Truist Financial lowered their target price on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.06.

Sage Therapeutics Stock Down 0.7 %

Shares of Sage Therapeutics stock opened at $7.52 on Wednesday. The stock’s 50-day simple moving average is $9.25 and its 200-day simple moving average is $12.46. Sage Therapeutics, Inc. has a 52 week low of $7.19 and a 52 week high of $28.26. The company has a market capitalization of $452.57 million, a price-to-earnings ratio of -0.90 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $8.65 million for the quarter, compared to the consensus estimate of $8.85 million. During the same period in the previous year, the company posted ($2.68) earnings per share. Sage Therapeutics’s quarterly revenue was up 249.8% on a year-over-year basis. On average, equities analysts expect that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current year.

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.