3,052,538 Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE) Acquired by Caligan Partners LP

Caligan Partners LP bought a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,052,538 shares of the biopharmaceutical company's stock, valued at approximately $16,575,000. Sage Therapeutics comprises 4.4% of Caligan Partners LP's holdings, making the stock its 8th largest holding. Caligan Partners LP owned about 4.99% of Sage Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 3,581 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Sage Therapeutics during the fourth quarter valued at approximately $49,000. Ieq Capital LLC purchased a new position in Sage Therapeutics during the 4th quarter worth $57,000. US Bancorp DE lifted its holdings in shares of Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after buying an additional 2,268 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 2,446 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Price Performance

Sage Therapeutics stock traded down $0.30 during midday trading on Tuesday, hitting $6.88. 841,490 shares of the stock were exchanged, compared to its average volume of 1,218,335. The company has a 50 day moving average price of $7.54 and a two-hundred day moving average price of $6.77. Sage Therapeutics, Inc. has a 1 year low of $4.62 and a 1 year high of $14.31. The firm has a market cap of $430.52 million, a P/E ratio of -1.04 and a beta of 0.20.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The company had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The firm's revenue for the quarter was up 78.0% compared to the same quarter last year. During the same period last year, the company posted ($1.80) earnings per share. As a group, analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SAGE shares. Canaccord Genuity Group reduced their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Wedbush restated a "neutral" rating and set a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Bank of America initiated coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price objective for the company. Finally, Scotiabank cut their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.81.

About Sage Therapeutics

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.