Toronto Dominion Bank Takes $742,000 Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Toronto Dominion Bank 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 filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 136,723 shares of the biopharmaceutical company's stock, valued at approximately $742,000. Toronto Dominion Bank owned about 0.22% of Sage Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC boosted its stake in shares of Sage Therapeutics by 8.3% in the fourth quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock worth $8,817,000 after acquiring an additional 124,720 shares during the period. Thrivent Financial for Lutherans increased its stake in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock worth $405,000 after purchasing an additional 38,876 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Sage Therapeutics by 9.3% during the fourth 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after acquiring an additional 234,528 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Sage Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after acquiring an additional 4,350 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SAGE. Wall Street Zen upgraded Sage Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. 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 report on Wednesday, February 12th. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Canaccord Genuity Group dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, February 12th. One research analyst has 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, Sage Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $8.87.

Sage Therapeutics Trading Up 0.2%

NASDAQ SAGE traded up $0.01 during trading hours on Wednesday, hitting $6.54. 534,865 shares of the company's stock were exchanged, compared to its average volume of 1,181,834. The firm has a market cap of $409.54 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. The stock has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $6.77.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $14.12 million. During the same quarter last year, the company posted ($1.80) EPS. The company's quarterly revenue was up 78.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

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.