Lazard Asset Management LLC Buys New Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Lazard Asset Management LLC bought a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 222,726 shares of the biopharmaceutical company's stock, valued at approximately $1,209,000. Lazard Asset Management LLC owned 0.36% of Sage Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG increased its position in Sage Therapeutics by 67.6% in the 4th quarter. Deutsche Bank AG now owns 50,818 shares of the biopharmaceutical company's stock valued at $276,000 after acquiring an additional 20,504 shares during the period. D. E. Shaw & Co. Inc. increased its position in Sage Therapeutics by 18.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 720,105 shares of the biopharmaceutical company's stock valued at $3,910,000 after acquiring an additional 114,173 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Sage Therapeutics in the 4th quarter valued at approximately $829,000. BNP Paribas Financial Markets increased its position in Sage Therapeutics by 9.3% in 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, 683 Capital Management LLC increased its position in Sage Therapeutics by 5.0% in the 4th quarter. 683 Capital Management LLC now owns 630,000 shares of the biopharmaceutical company's stock valued at $3,421,000 after acquiring an additional 30,000 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Stock Up 2.6%

Shares of NASDAQ SAGE opened at $7.07 on Tuesday. The stock has a market capitalization of $442.73 million, a price-to-earnings ratio of -1.07 and a beta of 0.20. The stock's fifty day simple moving average is $7.41 and its 200 day simple moving average is $6.72. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $13.47.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued 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 company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the previous year, the firm earned ($1.80) earnings per share. The business's revenue was up 78.0% compared to the same quarter last year. As a group, analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SAGE shares. Bank of America started coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research note on Friday, April 25th. Wedbush reissued a "neutral" rating and issued a $6.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, February 12th. HC Wainwright reissued a "neutral" rating and issued a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of "Hold" and a consensus price target 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.

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