Caligan Partners LP Purchases Shares of 3,052,538 Sage Therapeutics, Inc. (NASDAQ:SAGE)

Caligan Partners LP acquired a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,052,538 shares of the biopharmaceutical company's stock, valued at approximately $16,575,000. Sage Therapeutics accounts for 4.4% of Caligan Partners LP's portfolio, making the stock its 8th biggest position. Caligan Partners LP owned approximately 4.99% of Sage Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SAGE. Jane Street Group LLC grew its position in shares of Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock worth $2,509,000 after acquiring an additional 234,528 shares during the last quarter. PDT Partners LLC grew its stake in shares of Sage Therapeutics by 37.2% in the fourth quarter. PDT Partners LLC now owns 235,097 shares of the biopharmaceutical company's stock worth $1,277,000 after purchasing an additional 63,804 shares in the last quarter. AdvisorShares Investments LLC lifted its holdings in Sage Therapeutics by 104.9% in the fourth quarter. AdvisorShares Investments LLC now owns 47,800 shares of the biopharmaceutical company's stock worth $260,000 after purchasing an additional 24,470 shares during the period. Northern Trust Corp increased its stake in Sage Therapeutics by 6.0% during the 4th quarter. Northern Trust Corp now owns 524,420 shares of the biopharmaceutical company's stock valued at $2,848,000 after buying an additional 29,560 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Sage Therapeutics during the 4th quarter worth about $7,540,000. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Stock Performance

Shares of SAGE traded down $0.18 during trading hours on Friday, hitting $7.30. 1,060,063 shares of the company were exchanged, compared to its average volume of 1,221,130. The company has a market cap of $457.13 million, a PE ratio of -1.11 and a beta of 0.20. The firm's 50 day moving average is $7.54 and its 200-day moving average is $6.78. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $14.31.

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

Wall Street Analysts Forecast Growth

SAGE has been the topic of a number of research analyst reports. Wedbush reiterated a "neutral" rating and set a $6.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Bank of America assumed coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price for the company. StockNews.com upgraded shares of Sage Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday. Canaccord Genuity Group lowered their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Finally, HC Wainwright reissued a "neutral" rating and set a $12.00 target price (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.81.

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.