222,726 Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE) Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 222,726 shares of the biopharmaceutical company's stock, valued at approximately $1,209,000. Lazard Asset Management LLC owned about 0.36% of Sage Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Picton Mahoney Asset Management boosted its stake in Sage Therapeutics by 126.0% in the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 3,581 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $49,000. Ieq Capital LLC bought a new stake in shares of Sage Therapeutics in the 4th quarter worth approximately $57,000. US Bancorp DE boosted its position in Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 2,268 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in 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 buying an additional 2,446 shares during the last quarter. Institutional investors own 99.22% of the company's stock.

Sage Therapeutics Stock Down 1.2%

SAGE traded down $0.08 during trading on Friday, reaching $6.53. The stock had a trading volume of 770,577 shares, compared to its average volume of 1,196,563. The stock has a 50 day moving average of $7.32 and a two-hundred day moving average of $6.74. The firm has a market capitalization of $408.92 million, a price-to-earnings ratio of -0.99 and a beta of 0.20. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $13.47.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The company's quarterly revenue was up 78.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.80) EPS. On average, research analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SAGE. Scotiabank cut their target price 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. Bank of America began coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price objective on the stock. Canaccord Genuity Group reduced their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Wall Street Zen cut shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $8.81.

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.