Point72 Asia Singapore Pte. Ltd. Has $237,000 Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Point72 Asia Singapore Pte. Ltd. grew its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 5,420.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,806 shares of the biopharmaceutical company’s stock after acquiring an additional 21,411 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Sage Therapeutics were worth $237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SAGE. Headlands Technologies LLC grew its position in shares of Sage Therapeutics by 245.3% during the 2nd 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 in the last quarter. Lazard Asset Management LLC acquired a new stake in Sage Therapeutics during the first quarter worth approximately $127,000. Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% during the 2nd 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 during the period. Point72 DIFC Ltd acquired a new position in Sage Therapeutics in the 2nd quarter valued at $153,000. Finally, SG Americas Securities LLC acquired a new position in Sage Therapeutics in the 2nd quarter valued at $177,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Scotiabank decreased their target price 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. Truist Financial cut their price target on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Robert W. Baird reduced their price target on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Finally, Mizuho lowered their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.06.

Sage Therapeutics Trading Up 2.1 %

Shares of SAGE stock opened at $7.17 on Friday. The firm has a market capitalization of $431.50 million, a price-to-earnings ratio of -0.85 and a beta of 0.91. The business’s 50-day moving average price is $8.63 and its 200-day moving average price is $11.90. Sage Therapeutics, Inc. has a 12 month low of $6.98 and a 12 month high of $28.26.

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