Point72 DIFC Ltd Makes New Investment in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Point72 DIFC Ltd acquired a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,097 shares of the biopharmaceutical company’s stock, valued at approximately $153,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares in the last quarter. RTW Investments LP boosted its holdings in shares of Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after acquiring an additional 47,537 shares during the last quarter. Bellevue Group AG grew its stake in shares of Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Sage Therapeutics during the second quarter valued at approximately $7,281,000. 99.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SAGE has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, August 1st. Scotiabank dropped their price target on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. Mizuho decreased their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. decreased their target price 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. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.06.

Sage Therapeutics Trading Down 3.6 %

NASDAQ:SAGE opened at $6.96 on Wednesday. The company has a market capitalization of $424.91 million, a P/E ratio of -0.83 and a beta of 0.91. Sage Therapeutics, Inc. has a 12 month low of $6.89 and a 12 month high of $28.26. The firm has a fifty day simple moving average of $8.42 and a 200-day simple moving average of $11.59.

Sage Therapeutics (NASDAQ:SAGE) last released 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 business had revenue of $8.65 million during 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 firm’s revenue was up 249.8% on a year-over-year basis. During the same period last year, the company earned ($2.68) earnings per share. Equities analysts forecast that Sage Therapeutics, Inc. will post -6.47 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.