Monaco Asset Management SAM Buys Shares of 441,619 Sage Therapeutics, Inc. (NASDAQ:SAGE)

Monaco Asset Management SAM purchased a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 441,619 shares of the biopharmaceutical company's stock, valued at approximately $3,511,000. Sage Therapeutics accounts for approximately 0.7% of Monaco Asset Management SAM's investment portfolio, making the stock its 14th biggest holding. Monaco Asset Management SAM owned approximately 0.71% of Sage Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in Sage Therapeutics by 108.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock worth $405,000 after acquiring an additional 38,876 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Sage Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after purchasing an additional 2,446 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Sage Therapeutics in the 4th quarter valued at approximately $49,000. Geode Capital Management LLC lifted its stake in shares of Sage Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock valued at $6,827,000 after purchasing an additional 14,049 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Sage Therapeutics in the 4th quarter valued at approximately $759,000. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Price Performance

NASDAQ:SAGE remained flat at $8.68 during midday trading on Friday. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $11.44. The business's 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $7.66. The stock has a market cap of $543.54 million, a price-to-earnings ratio of -1.78 and a beta of 0.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.96) by $0.17. Sage Therapeutics had a negative return on equity of 67.10% and a negative net margin of 427.78%. The company had revenue of $31.66 million during the quarter, compared to the consensus estimate of $16.69 million. During the same period in the previous year, the company posted ($1.70) earnings per share. Sage Therapeutics's revenue for the quarter was up 266.0% on a year-over-year basis. On average, sell-side analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SAGE shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Robert W. Baird raised their price objective on Sage Therapeutics from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, June 20th. Wall Street Zen raised Sage Therapeutics to a "hold" rating in a research note on Saturday. Scotiabank cut Sage Therapeutics from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $12.00 to $9.20 in a research note on Tuesday, July 8th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $12.00 target price on shares of Sage Therapeutics in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to MarketBeat, Sage Therapeutics presently has an average rating of "Hold" and a consensus target price 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.