50,042 Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE) Acquired by Cerity Partners LLC

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 shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,042 shares of the biopharmaceutical company's stock, valued at approximately $398,000. Cerity Partners LLC owned about 0.08% of Sage Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Caligan Partners LP purchased a new stake in Sage Therapeutics during the fourth quarter valued at $16,575,000. Millennium Management LLC lifted its holdings in shares of Sage Therapeutics by 8.3% in the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after acquiring an additional 124,720 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Sage Therapeutics in the fourth quarter worth about $7,540,000. Geode Capital Management LLC increased its stake in Sage Therapeutics by 1.1% during the fourth 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 during the last quarter. Finally, Federated Hermes Inc. raised its position in Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after purchasing an additional 430,432 shares during the period. Hedge funds and other institutional investors own 99.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen cut Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Robert W. Baird increased their target price on shares of Sage Therapeutics from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, June 20th. Piper Sandler lowered shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Tuesday, June 17th. Finally, Canaccord Genuity Group upped their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a report on Tuesday, June 17th. Two analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, Sage Therapeutics presently has an average rating of "Hold" and a consensus target price of $8.02.

Sage Therapeutics Trading Down 0.2%

Shares of Sage Therapeutics stock traded down $0.02 during trading on Wednesday, hitting $8.68. 22,691,424 shares of the stock traded hands, compared to its average volume of 2,723,381. The stock's fifty day simple moving average is $8.21 and its 200 day simple moving average is $7.64. The firm has a market cap of $543.54 million, a P/E ratio of -1.50 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 posted its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating analysts' consensus estimates of ($0.96) by $0.17. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. During the same quarter in the prior year, the business posted ($1.70) EPS. The firm's revenue was up 266.0% on a year-over-year basis. As a group, equities analysts expect that Sage Therapeutics, Inc. will post -3.52 EPS for the current 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.