AQR Capital Management LLC Acquires New Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE)

AQR Capital Management LLC bought a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93,830 shares of the biopharmaceutical company’s stock, valued at approximately $1,008,000. AQR Capital Management LLC owned about 0.15% of Sage Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 333,805 shares during the period. Vanguard Group Inc. raised its position in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares during the period. Virtu Financial LLC acquired a new position in Sage Therapeutics in the 1st quarter valued at $187,000. Finally, Bellevue Group AG raised its stake in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares during the period. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $6.59 on Friday. The company has a market cap of $402.32 million, a PE ratio of -0.89 and a beta of 0.91. Sage Therapeutics, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $28.26. The stock’s fifty day moving average price is $7.68 and its two-hundred day moving average price is $10.90.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same period in the previous year, the company posted ($2.68) earnings per share. The company’s quarterly revenue was up 249.8% compared to the same quarter last year. On average, equities analysts predict that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $16.00 to $10.00 in a report on Tuesday, July 30th. The Goldman Sachs Group decreased their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Bank of America lowered their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $13.76.

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.