Arizona State Retirement System Sells 2,229 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Arizona State Retirement System lessened its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 15.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,620 shares of the biopharmaceutical company’s stock after selling 2,229 shares during the period. Arizona State Retirement System’s holdings in Sage Therapeutics were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Sage Therapeutics by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 413,905 shares of the biopharmaceutical company’s stock valued at $8,969,000 after purchasing an additional 4,918 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Sage Therapeutics during the 4th quarter valued at approximately $560,000. Trexquant Investment LP acquired a new stake in Sage Therapeutics in the 4th quarter valued at approximately $2,234,000. Quest Partners LLC bought a new position in Sage Therapeutics in the 4th quarter worth approximately $261,000. Finally, RTW Investments LP lifted its holdings in shares of Sage Therapeutics by 0.9% during the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after buying an additional 47,537 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SAGE shares. Citigroup started coverage on shares of Sage Therapeutics in a research note on Wednesday, May 29th. They issued a “sell” rating and a $8.00 price objective on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research report on Friday, August 2nd. Scotiabank reduced their target price 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. Mizuho cut their price target 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, Robert W. Baird decreased their price objective on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Two investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.06.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $7.59 on Thursday. The business has a fifty day moving average of $9.18 and a two-hundred day moving average of $12.43. Sage Therapeutics, Inc. has a 52-week low of $7.19 and a 52-week high of $28.26. The stock has a market cap of $456.78 million, a PE ratio of -0.90 and a beta of 0.91.

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). The firm 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%. Sage Therapeutics’s quarterly revenue was up 249.8% on a year-over-year basis. During the same quarter last year, the firm earned ($2.68) earnings per share. Analysts predict that Sage Therapeutics, Inc. will post -6.47 earnings per share 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.