Assenagon Asset Management S.A. Sells 65,316 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Assenagon Asset Management S.A. lessened its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,723 shares of the biopharmaceutical company’s stock after selling 65,316 shares during the period. Assenagon Asset Management S.A. owned about 0.20% of Sage Therapeutics worth $656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SAGE. RTW Investments LP raised its holdings in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after acquiring an additional 111,123 shares in the last quarter. State Street Corp raised its stake in Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Geode Capital Management LLC grew its stake in Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after buying an additional 518,296 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Sage Therapeutics by 831.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Stock Up 1.1 %

Sage Therapeutics stock opened at $7.10 on Friday. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $27.67. The company has a market capitalization of $434.31 million, a PE ratio of -1.27 and a beta of 0.91. The firm’s fifty day moving average is $5.83 and its 200 day moving average is $7.37.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.81) earnings per share. Sell-side analysts expect that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SAGE shares. Bank of America cut their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Scotiabank dropped their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. HC Wainwright reiterated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Finally, Wedbush cut their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.53.

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.