Ameriprise Financial Inc. Reduces Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Ameriprise Financial Inc. lowered its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 41.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,630 shares of the biopharmaceutical company's stock after selling 88,350 shares during the quarter. Ameriprise Financial Inc. owned 0.21% of Sage Therapeutics worth $682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caligan Partners LP purchased a new position in shares of Sage Therapeutics during the 4th quarter worth about $16,575,000. Boothbay Fund Management LLC purchased a new stake in Sage Therapeutics in the 4th quarter valued at about $7,540,000. Federated Hermes Inc. boosted its position in Sage Therapeutics by 63.7% in the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after buying an additional 430,432 shares during the period. Jane Street Group LLC boosted its position in Sage Therapeutics by 103.1% in the 4th 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. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Sage Therapeutics in the 4th quarter valued at about $1,172,000. Hedge funds and other institutional investors own 99.22% of the company's stock.

Sage Therapeutics Price Performance

Shares of SAGE stock traded up $0.07 during trading hours on Friday, hitting $6.85. The company had a trading volume of 772,671 shares, compared to its average volume of 1,182,256. The company's fifty day moving average is $6.99 and its 200 day moving average is $6.81. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $13.47. The stock has a market capitalization of $428.95 million, a PE ratio of -1.04 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (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 for the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the company earned ($1.80) earnings per share. Sage Therapeutics's quarterly revenue was up 78.0% compared to the same quarter last year. Equities analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Analyst Ratings Changes

SAGE has been the subject of several recent research reports. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. 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. Wall Street Zen lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. Canaccord Genuity Group decreased 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. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics currently has an average rating of "Hold" and an average target price of $8.87.

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.