Jacobs Levy Equity Management Inc. Decreases Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,123,308 shares of the biopharmaceutical company's stock after selling 136,709 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.84% of Sage Therapeutics worth $6,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in Sage Therapeutics by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company's stock valued at $122,000 after purchasing an additional 8,228 shares during the last quarter. Inspire Investing LLC raised its position in Sage Therapeutics by 30.4% in the 4th quarter. Inspire Investing LLC now owns 75,313 shares of the biopharmaceutical company's stock valued at $409,000 after purchasing an additional 17,541 shares during the last quarter. Empowered Funds LLC bought a new position in Sage Therapeutics in the 4th quarter valued at $91,000. Ieq Capital LLC bought a new position in Sage Therapeutics in the 4th quarter valued at $57,000. Finally, US Bancorp DE raised its position in Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 2,268 shares during the last quarter. Institutional investors own 99.22% of the company's stock.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded up $0.28 on Friday, hitting $6.89. 734,613 shares of the stock traded hands, compared to its average volume of 1,217,091. The business's fifty day moving average is $7.42 and its two-hundred day moving average is $6.71. Sage Therapeutics, Inc. has a 12 month low of $4.62 and a 12 month high of $13.47. The firm has a market capitalization of $431.46 million, a price-to-earnings ratio of -1.05 and a beta of 0.20.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The firm had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period last year, the company posted ($1.80) earnings per share. Sage Therapeutics's revenue for the quarter was up 78.0% on a year-over-year basis. Analysts expect that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SAGE shares. 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. Bank of America started coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price for the company. Wedbush restated a "neutral" rating and set a $6.00 target price on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Scotiabank dropped their target price on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating for the company in a research report on Wednesday, February 12th. Finally, HC Wainwright restated a "neutral" rating and set a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target 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.