Point72 DIFC Ltd Purchases New Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Point72 DIFC Ltd bought a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,097 shares of the biopharmaceutical company’s stock, valued at approximately $153,000.

Several other institutional investors have also added to or reduced their stakes in SAGE. Headlands Technologies LLC lifted its stake in Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares during the last quarter. Lazard Asset Management LLC bought a new position in Sage Therapeutics in the first quarter valued at about $127,000. Quest Partners LLC raised its stake in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sage Therapeutics during the 2nd quarter valued at approximately $177,000. Finally, AdvisorShares Investments LLC increased its position in Sage Therapeutics by 13.6% during the 2nd quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 1,918 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SAGE. Robert W. Baird decreased their price objective on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Truist Financial cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Scotiabank decreased their price objective on shares of 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. Finally, HC Wainwright restated a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.06.

Sage Therapeutics Trading Down 3.6 %

Shares of Sage Therapeutics stock opened at $6.96 on Wednesday. Sage Therapeutics, Inc. has a 12 month low of $6.89 and a 12 month high of $28.26. The firm has a market capitalization of $424.91 million, a P/E ratio of -0.83 and a beta of 0.91. The business’s fifty day simple moving average is $8.42 and its 200 day simple moving average is $11.59.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $8.65 million for the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the previous year, the company posted ($2.68) EPS. Sage Therapeutics’s quarterly revenue was up 249.8% compared to the same quarter last year. Analysts predict that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

About Sage Therapeutics

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.