BML Capital Management LLC Takes Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Key Points

• BML Capital Management LLC purchased 135,095 new shares of Sage Therapeutics, Inc. valued at approximately $1,074,000, making Sage Therapeutics the 18th largest holding in their investment portfolio.
• Several institutional investors, including Teacher Retirement System of Texas and ProShare Advisors LLC, have also increased their stakes in Sage Therapeutics during the fourth quarter of the previous year.
• Sage Therapeutics reported a quarterly earnings loss of ($1.01) EPS, missing estimates, while experiencing a year-over-year revenue increase of 78% to $14.06 million.

BML Capital Management LLC acquired a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 135,095 shares of the biopharmaceutical company's stock, valued at approximately $1,074,000. Sage Therapeutics makes up approximately 0.8% of BML Capital Management LLC's portfolio, making the stock its 18th biggest holding. BML Capital Management LLC owned 0.22% of Sage Therapeutics at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Caligan Partners LP bought a new stake in shares of Sage Therapeutics during the 4th quarter worth $16,575,000. Millennium Management LLC boosted its stake in shares of Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock worth $8,817,000 after acquiring an additional 124,720 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Sage Therapeutics during the 4th quarter worth $7,540,000. Geode Capital Management LLC boosted its stake in shares of Sage Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock worth $6,827,000 after acquiring an additional 14,049 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Sage Therapeutics by 63.7% during the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock worth $6,004,000 after acquiring an additional 430,432 shares in the last quarter. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Trading Down 0.7%

NASDAQ SAGE traded down $0.07 during trading on Tuesday, hitting $8.72. 3,690,901 shares of the company traded hands, compared to its average volume of 1,854,283. Sage Therapeutics, Inc. has a 12 month low of $4.62 and a 12 month high of $11.44. The business has a fifty day simple moving average of $8.18 and a 200 day simple moving average of $7.63. The company has a market capitalization of $545.73 million, a P/E ratio of -1.50 and a beta of 0.29.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The company had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. During the same quarter last year, the business earned ($1.80) earnings per share. Sage Therapeutics's quarterly revenue was up 78.0% on a year-over-year basis. Equities research analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Analyst Ratings Changes

SAGE has been the subject of a number of research analyst reports. Wall Street Zen lowered Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. HC Wainwright restated a "neutral" rating and issued a $12.00 target price on shares of Sage Therapeutics in a report on Tuesday, June 17th. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Monday, June 16th. Canaccord Genuity Group increased their target price on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a report on Tuesday, June 17th. Finally, Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $9.00 to $8.50 in a report on Tuesday, June 17th. Two investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.02.

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.