Assenagon Asset Management S.A. Raises Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Assenagon Asset Management S.A. lifted its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 6.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 167,225 shares of the biopharmaceutical company’s stock after buying an additional 10,632 shares during the period. Assenagon Asset Management S.A.’s holdings in Sage Therapeutics were worth $1,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Sage Therapeutics in the 2nd quarter worth approximately $177,000. Harbor Capital Advisors Inc. increased its stake in Sage Therapeutics by 43.6% in the second quarter. Harbor Capital Advisors Inc. now owns 37,572 shares of the biopharmaceutical company’s stock valued at $408,000 after purchasing an additional 11,409 shares during the last quarter. Virtu Financial LLC acquired a new position in Sage Therapeutics in the first quarter valued at $187,000. Baker BROS. Advisors LP acquired a new position in Sage Therapeutics in the first quarter valued at $7,631,000. Finally, Bellevue Group AG boosted its stake in Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $8.65 on Thursday. The business’s 50-day simple moving average is $10.44 and its 200 day simple moving average is $14.58. The company has a market cap of $528.08 million, a P/E ratio of -1.03 and a beta of 0.90. Sage Therapeutics, Inc. has a one year low of $7.70 and a one year high of $28.26.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on SAGE shares. Royal Bank of Canada dropped their price objective on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Thursday, August 1st. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Mizuho dropped their price objective on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Baird R W upgraded Sage Therapeutics to a “hold” rating in a report on Wednesday, May 29th. Two 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. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $16.06.

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.