Cerity Partners LLC Purchases New Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Key Points

• Cerity Partners LLC has acquired a new stake in Sage Therapeutics valued at approximately $398,000, owning 0.08% of the company following its latest SEC filing.
• Several hedge funds have increased their positions in Sage Therapeutics, with Teacher Retirement System of Texas and ProShare Advisors LLC raising their stakes by over 21% and 31% respectively during the fourth quarter of the previous fiscal year.
• Sage Therapeutics reported a revenue increase of 78% year-over-year for the last quarter, although it missed earnings estimates with a loss of ($1.01) per share compared to expected ($0.99).

Cerity Partners LLC acquired a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,042 shares of the biopharmaceutical company's stock, valued at approximately $398,000. Cerity Partners LLC owned 0.08% of Sage Therapeutics at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SAGE. Teacher Retirement System of Texas grew its holdings in shares of Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock worth $75,000 after purchasing an additional 2,446 shares during the period. ProShare Advisors LLC raised its position in Sage Therapeutics by 31.2% in the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 4,350 shares during the period. Invesco Ltd. lifted its stake in Sage Therapeutics by 5.3% during the 4th quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock worth $502,000 after acquiring an additional 4,629 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Sage Therapeutics by 9.3% during the 4th quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock valued at $421,000 after acquiring an additional 6,574 shares during the period. Finally, Wells Fargo & Company MN grew its position in Sage Therapeutics by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company's stock valued at $179,000 after acquiring an additional 7,087 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company's stock.

Sage Therapeutics Stock Up 0.5%

NASDAQ:SAGE opened at $8.80 on Friday. The stock's 50 day moving average price is $8.15 and its 200 day moving average price is $7.60. The company has a market capitalization of $551.06 million, a PE ratio of -1.52 and a beta of 0.29. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $11.44.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on SAGE. Scotiabank lowered shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $12.00 to $9.20 in a research note on Tuesday, July 8th. Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $9.00 to $8.50 in a research report on Tuesday, June 17th. Wall Street Zen lowered Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Truist Financial set a $9.00 target price on Sage Therapeutics and gave the stock a "hold" rating in a research note on Tuesday, June 17th. Finally, HC Wainwright reissued a "neutral" rating and set a $12.00 price objective on shares of Sage Therapeutics in a research 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's stock. According to data from MarketBeat, Sage Therapeutics currently has a consensus rating of "Hold" and an average price target of $8.02.

About Sage Therapeutics

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.

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