Sage Therapeutics, Inc. (NASDAQ:SAGE) Position Increased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 831.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 489,089 shares of the biopharmaceutical company’s stock after buying an additional 436,566 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Sage Therapeutics were worth $5,312,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Headlands Technologies LLC raised 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 acquiring an additional 2,782 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $127,000. Virtu Financial LLC bought a new stake in shares of Sage Therapeutics in the 1st quarter worth approximately $187,000. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 66.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 4,617 shares during the period. Finally, Quest Partners LLC boosted its position in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SAGE has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. TD Cowen cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. HC Wainwright restated a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their target price on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $16.06.

Sage Therapeutics Trading Up 1.7 %

Shares of NASDAQ:SAGE opened at $7.29 on Friday. The company has a 50 day moving average of $8.53 and a 200-day moving average of $11.80. The firm has a market cap of $445.05 million, a P/E ratio of -0.87 and a beta of 0.91. Sage Therapeutics, Inc. has a twelve month low of $6.98 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released 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 net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. During the same period in the prior year, the company earned ($2.68) earnings per share. The firm’s revenue for the quarter was up 249.8% on a year-over-year basis. Equities research analysts forecast that Sage Therapeutics, Inc. will post -6.47 EPS for the current 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.