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

Cubist Systematic Strategies LLC acquired a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 152,726 shares of the biopharmaceutical company's stock, valued at approximately $829,000. Cubist Systematic Strategies LLC owned about 0.25% of Sage Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock worth $405,000 after purchasing an additional 38,876 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after buying an additional 234,528 shares during the period. Amundi bought a new stake in shares of Sage Therapeutics in the fourth quarter valued at $166,000. SG Americas Securities LLC raised its stake in shares of Sage Therapeutics by 57.7% in the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company's stock valued at $122,000 after buying an additional 8,228 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Sage Therapeutics in the fourth quarter valued at $91,000. Hedge funds and other institutional investors own 99.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SAGE shares. Canaccord Genuity Group lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. 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. StockNews.com lowered Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday. Scotiabank decreased their price objective on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, February 12th. Finally, HC Wainwright reiterated a "neutral" rating and set a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics currently has an average rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Performance

SAGE stock traded down $0.09 on Tuesday, reaching $6.99. The company's stock had a trading volume of 76,641 shares, compared to its average volume of 1,212,057. The business has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $6.72. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $13.47. The firm has a market cap of $437.41 million, a PE ratio of -1.06 and a beta of 0.20.

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

Sage Therapeutics 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.