Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 31.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,256 shares of the biopharmaceutical company’s stock after buying an additional 2,967 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sage Therapeutics were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after acquiring an additional 175,565 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Sage Therapeutics in the 3rd quarter valued at approximately $1,167,000. Rafferty Asset Management LLC increased its holdings in shares of Sage Therapeutics by 197.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock worth $8,477,000 after buying an additional 273,257 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company’s stock valued at $1,849,000 after buying an additional 26,250 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Price Performance

SAGE opened at $13.94 on Monday. The business has a fifty day moving average price of $17.69 and a 200 day moving average price of $20.44. Sage Therapeutics, Inc. has a 12 month low of $10.92 and a 12 month high of $59.99. The stock has a market capitalization of $838.91 million, a price-to-earnings ratio of -1.66 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.46) EPS. On average, research analysts anticipate that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SAGE has been the subject of several analyst reports. Oppenheimer lowered their price objective on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. HC Wainwright cut their price objective on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $24.00 to $14.00 in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Canaccord Genuity Group decreased their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.67.

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.