Cubist Systematic Strategies LLC Takes Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Cubist Systematic Strategies LLC bought a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 152,726 shares of the biopharmaceutical company's stock, valued at approximately $829,000. Cubist Systematic Strategies LLC owned 0.25% of Sage Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caligan Partners LP purchased a new stake in shares of Sage Therapeutics in the fourth quarter valued at approximately $16,575,000. Boothbay Fund Management LLC purchased a new position in shares of Sage Therapeutics during the fourth quarter valued at $7,540,000. Federated Hermes Inc. raised its holdings in shares of Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after acquiring an additional 430,432 shares in the last quarter. Jane Street Group LLC lifted its stake in Sage Therapeutics by 103.1% in 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 period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Sage Therapeutics during the 4th quarter worth about $1,172,000. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Trading Up 4.2%

Shares of NASDAQ:SAGE traded up $0.28 on Friday, hitting $6.89. 734,613 shares of the company were exchanged, compared to its average volume of 1,218,217. The stock's 50 day moving average price is $7.42 and its 200 day moving average price is $6.71. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $13.47. The firm has a market capitalization of $431.46 million, a P/E ratio of -1.05 and a beta of 0.20.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The company's revenue for the quarter was up 78.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.80) earnings per share. On average, equities analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Sage Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Canaccord Genuity Group decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a "neutral" rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Two 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 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.