Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,623,785 shares of the biopharmaceutical company’s stock after purchasing an additional 124,720 shares during the quarter. Millennium Management LLC owned approximately 2.65% of Sage Therapeutics worth $8,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caligan Partners LP purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at $16,575,000. Boothbay Fund Management LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at $7,540,000. Federated Hermes Inc. grew its holdings in shares of Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock worth $6,004,000 after purchasing an additional 430,432 shares during the last quarter. Jane Street Group LLC increased its position in shares of Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock worth $2,509,000 after purchasing an additional 234,528 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics during the fourth quarter worth about $1,209,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SAGE shares. Canaccord Genuity Group cut their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Bank of America began coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Friday, April 25th. Wall Street Zen lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 19th. Finally, Wedbush restated a “neutral” rating and issued a $6.00 price target on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $8.81.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $6.53 on Monday. The company has a market cap of $408.92 million, a P/E ratio of -0.99 and a beta of 0.20. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $13.47. The business has a fifty day moving average of $7.32 and a two-hundred day moving average of $6.74.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the business earned ($1.80) EPS. The firm’s revenue for the quarter was up 78.0% on a year-over-year basis. Sell-side analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Sage Therapeutics 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.