Baillie Gifford & Co. Has $688,000 Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Baillie Gifford & Co. reduced its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 21.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,333 shares of the biopharmaceutical company’s stock after selling 17,483 shares during the quarter. Baillie Gifford & Co. owned 0.11% of Sage Therapeutics worth $688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Sage Therapeutics during the 1st quarter worth approximately $127,000. SG Americas Securities LLC acquired a new position in Sage Therapeutics during the second quarter worth approximately $177,000. Virtu Financial LLC bought a new stake in Sage Therapeutics in the first quarter valued at approximately $187,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 4,617 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after acquiring an additional 1,130 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SAGE has been the topic of a number of research analyst reports. Truist Financial dropped their price target on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Mizuho dropped their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Thursday, August 1st. The Goldman Sachs Group lowered their price target 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. Finally, Scotiabank reduced their price objective on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.06.

Sage Therapeutics Stock Up 2.7 %

SAGE stock opened at $8.41 on Monday. The company’s 50-day moving average price is $10.31 and its two-hundred day moving average price is $14.28. Sage Therapeutics, Inc. has a 12 month low of $7.70 and a 12 month high of $28.26. The firm has a market cap of $506.13 million, a P/E ratio of -1.00 and a beta of 0.90.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The firm had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.68) earnings per share. Equities analysts predict that Sage Therapeutics, Inc. will post -6.39 EPS for the current year.

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.