Millennium Management LLC Grows Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Millennium Management LLC grew its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,623,785 shares of the biopharmaceutical company's stock after acquiring an additional 124,720 shares during the quarter. Millennium Management LLC owned about 2.65% of Sage Therapeutics worth $8,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SAGE. Caligan Partners LP purchased a new position in Sage Therapeutics during the 4th quarter worth approximately $16,575,000. Boothbay Fund Management LLC purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $7,540,000. Federated Hermes Inc. grew its stake in shares of Sage Therapeutics by 63.7% in the 4th 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 last quarter. Jane Street Group LLC grew its stake in shares of Sage Therapeutics by 103.1% in the 4th quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after purchasing an additional 234,528 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $1,209,000. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Stock Performance

SAGE stock traded down $0.04 during midday trading on Wednesday, hitting $6.48. 673,816 shares of the stock were exchanged, compared to its average volume of 1,192,927. The stock's 50-day moving average price is $7.26 and its 200-day moving average price is $6.74. The stock has a market cap of $405.78 million, a price-to-earnings ratio of -0.98 and a beta of 0.20. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $13.47.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The firm 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 68.18% and a negative net margin of 971.50%. The business's revenue for the quarter was up 78.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.80) earnings per share. Research analysts anticipate that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SAGE. Scotiabank lowered 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 Sage Therapeutics in a research note on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price on the stock. Wall Street Zen downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Wedbush reiterated a "neutral" rating and issued a $6.00 target price on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.81.

Sage Therapeutics Company 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.