Dimensional Fund Advisors LP Reduces Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Dimensional Fund Advisors LP trimmed its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,355 shares of the biopharmaceutical company’s stock after selling 3,979 shares during the quarter. Dimensional Fund Advisors LP owned 0.79% of Sage Therapeutics worth $2,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock valued at $6,004,000 after purchasing an additional 430,432 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Sage Therapeutics in the 4th quarter worth $759,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sage Therapeutics by 157.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company’s stock worth $918,000 after purchasing an additional 103,495 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Sage Therapeutics by 108.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company’s stock valued at $405,000 after acquiring an additional 38,876 shares during the last quarter. Finally, Martingale Asset Management L P grew its position in Sage Therapeutics by 70.3% during the 4th quarter. Martingale Asset Management L P now owns 80,183 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 33,106 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Down 3.5%

Shares of NASDAQ:SAGE opened at $6.38 on Thursday. The stock has a market cap of $399.52 million, a price-to-earnings ratio of -0.97 and a beta of 0.20. The firm’s 50 day moving average price is $7.44 and its 200 day moving average price is $6.73. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The business had revenue of $14.06 million for the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the previous year, the firm earned ($1.80) EPS. Sage Therapeutics’s revenue for the quarter was up 78.0% compared to the same quarter last year. On average, equities analysts anticipate that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analyst Ratings Changes

SAGE has been the subject of several recent research reports. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Wedbush reissued a “neutral” rating and issued a $6.00 price target on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Canaccord Genuity Group dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Bank of America started coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price target for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.81.

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.