Rhumbline Advisers Has $988,000 Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Rhumbline Advisers boosted its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 17.5% during the second quarter, Holdings Channel reports. The fund owned 91,002 shares of the biopharmaceutical company’s stock after purchasing an additional 13,573 shares during the period. Rhumbline Advisers’ holdings in Sage Therapeutics were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SAGE. Pinnacle Associates Ltd. raised its position in shares of Sage Therapeutics by 2.6% in the second quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock valued at $3,185,000 after purchasing an additional 7,334 shares during the period. Bank of New York Mellon Corp grew its stake in Sage Therapeutics by 20.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock valued at $2,376,000 after buying an additional 37,691 shares during the last quarter. Easterly Investment Partners LLC raised its holdings in Sage Therapeutics by 24.6% in the 2nd quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,483,000 after acquiring an additional 27,000 shares during the period. Values First Advisors Inc. lifted its position in Sage Therapeutics by 62.0% during the second quarter. Values First Advisors Inc. now owns 28,962 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 11,086 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Sage Therapeutics by 6.8% during the second quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock worth $1,816,000 after acquiring an additional 10,632 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Stock Down 5.1 %

Shares of SAGE stock opened at $7.50 on Monday. The business has a fifty day simple moving average of $9.02 and a 200 day simple moving average of $12.17. The company has a market cap of $451.37 million, a P/E ratio of -0.89 and a beta of 0.91. Sage Therapeutics, Inc. has a twelve month low of $7.19 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The company had revenue of $8.65 million during 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 company’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.68) earnings per share. As a group, equities research analysts anticipate that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Mizuho lowered their price objective on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Robert W. Baird reduced their target price on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Scotiabank dropped their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.