43,638 Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE) Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,638 shares of the biopharmaceutical company's stock, valued at approximately $347,000. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Sage Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Caligan Partners LP acquired a new position in Sage Therapeutics in the 4th quarter valued at about $16,575,000. Boothbay Fund Management LLC acquired a new position in Sage Therapeutics in the 4th quarter valued at about $7,540,000. Federated Hermes Inc. increased its stake in Sage Therapeutics by 63.7% in the fourth 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 increased its stake in 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 purchasing an additional 234,528 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at $1,209,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock traded up $0.06 during trading hours on Friday, reaching $9.27. The company's stock had a trading volume of 3,064,266 shares, compared to its average volume of 1,324,288. The company's 50 day simple moving average is $7.66 and its 200 day simple moving average is $7.34. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $13.47. The stock has a market cap of $580.49 million, a P/E ratio of -1.60 and a beta of 0.29.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly 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 68.99% and a negative net margin of 747.63%. The business had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.12 million. During the same quarter in the previous year, the business posted ($1.80) earnings per share. The company's quarterly revenue was up 78.0% compared to the same quarter last year. On average, sell-side analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SAGE. Robert W. Baird lifted their price target on shares of Sage Therapeutics from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, June 20th. Piper Sandler downgraded Sage Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $9.00 to $8.50 in a research report on Tuesday, June 17th. Scotiabank lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $12.00 to $9.20 in a research note on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Finally, Wall Street Zen cut Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Two analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $8.75.

Sage Therapeutics 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.