Inspire Investing LLC Purchases 13,399 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Inspire Investing LLC boosted its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 69.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,633 shares of the biopharmaceutical company’s stock after acquiring an additional 13,399 shares during the period. Inspire Investing LLC owned 0.05% of Sage Therapeutics worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SAGE. Bellevue Group AG lifted its holdings 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 period. Federated Hermes Inc. purchased a new stake in Sage Therapeutics in the second quarter worth $7,281,000. Renaissance Technologies LLC boosted its holdings in Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after acquiring an additional 518,296 shares in the last quarter. Vanguard Group Inc. increased its position in Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares during the period. Finally, Baker BROS. Advisors LP bought a new position in Sage Therapeutics in the 1st quarter worth $7,631,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Trading Down 5.1 %

SAGE stock opened at $7.50 on Monday. The stock’s 50 day simple moving average is $9.02 and its 200 day simple moving average is $12.17. Sage Therapeutics, Inc. has a 12-month low of $7.19 and a 12-month high of $28.26. The stock has a market capitalization of $451.37 million, a PE ratio of -0.89 and a beta of 0.91.

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 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 quarterly revenue was up 249.8% on a year-over-year basis. During the same period last year, the business earned ($2.68) earnings per share. On average, research analysts predict that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SAGE. Mizuho reduced their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Truist Financial lowered their target price on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Thursday, August 1st. Finally, Citigroup began coverage on Sage Therapeutics in a research report on Wednesday, May 29th. They set a “sell” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Sage Therapeutics currently has a consensus rating of “Hold” and an average target price of $16.06.

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.