Wealth Enhancement Advisory Services LLC Invests $347,000 in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Wealth Enhancement Advisory Services LLC bought a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 43,638 shares of the biopharmaceutical company's stock, valued at approximately $347,000. Wealth Enhancement Advisory Services LLC owned 0.07% of Sage Therapeutics as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE raised its holdings in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 2,268 shares during the period. 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. Picton Mahoney Asset Management lifted its stake in shares of Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 3,581 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Sage Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 4,350 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Sage Therapeutics by 5.3% in the 4th quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after purchasing an additional 4,629 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Price Performance

NASDAQ SAGE traded up $0.02 during midday trading on Thursday, hitting $9.22. 982,635 shares of the company traded hands, compared to its average volume of 1,312,966. The company has a market cap of $577.04 million, a PE ratio of -1.59 and a beta of 0.29. The company's 50-day simple moving average is $7.62 and its 200-day simple moving average is $7.31. 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 announced its 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). The company had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm's revenue was up 78.0% compared to the same quarter last year. During the same period last year, the business posted ($1.80) EPS. On average, research analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SAGE. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Monday, June 16th. HC Wainwright reiterated a "neutral" rating and issued a $12.00 price target on shares of Sage Therapeutics in a report on Tuesday, June 17th. Canaccord Genuity Group increased their price target on Sage Therapeutics from $8.00 to $8.50 and gave the stock a "hold" rating in a report on Tuesday, June 17th. Truist Financial set a $9.00 price target on Sage Therapeutics and gave the stock a "hold" rating in a report on Tuesday, June 17th. Finally, Scotiabank downgraded Sage Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $12.00 to $9.20 in a report on Tuesday. Two research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.75.

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.