Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 1,112.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,407 shares of the biopharmaceutical company’s stock after purchasing an additional 287,549 shares during the quarter. Squarepoint Ops LLC owned about 0.51% of Sage Therapeutics worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SAGE. Vanguard Group Inc. grew its stake in Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares during the period. RTW Investments LP grew its position in shares of Sage Therapeutics by 0.9% in the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after purchasing an additional 47,537 shares during the period. Bellevue Group AG increased its stake in Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after buying an additional 333,805 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Sage Therapeutics in the 2nd quarter worth about $7,281,000. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Trading Down 3.6 %

Shares of SAGE stock opened at $6.96 on Wednesday. The company’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $11.59. Sage Therapeutics, Inc. has a 12 month low of $6.89 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued 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 business had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same period in the prior year, the company posted ($2.68) EPS. The company’s revenue for the quarter was up 249.8% on a year-over-year basis. On average, analysts anticipate that Sage Therapeutics, Inc. will post -6.47 EPS for the current year.

Analysts Set New Price Targets

SAGE has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Scotiabank decreased their price target on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped 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. Mizuho cut their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $16.00 to $10.00 in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and an average 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.