Vanguard Group Inc. Purchases 175,565 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Vanguard Group Inc. increased its position in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,208,002 shares of the biopharmaceutical company's stock after purchasing an additional 175,565 shares during the quarter. Vanguard Group Inc. owned approximately 8.68% of Sage Therapeutics worth $107,181,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAGE. Wellington Management Group LLP grew its position in shares of Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company's stock worth $135,257,000 after buying an additional 208,630 shares during the period. Algert Global LLC acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth about $1,167,000. Rafferty Asset Management LLC grew its position in shares of Sage Therapeutics by 197.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company's stock worth $8,477,000 after buying an additional 273,257 shares during the period. Primecap Management Co. CA grew its position in shares of Sage Therapeutics by 41.3% during the 3rd quarter. Primecap Management Co. CA now owns 89,850 shares of the biopharmaceutical company's stock worth $1,849,000 after buying an additional 26,250 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Sage Therapeutics during the 3rd quarter valued at about $8,052,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Stock Down 1.0 %

Shares of SAGE stock traded down $0.16 during trading on Friday, reaching $16.42. 669,554 shares of the company's stock were exchanged, compared to its average volume of 946,702. The stock has a market capitalization of $987.01 million, a PE ratio of -1.81 and a beta of 0.86. Sage Therapeutics, Inc. has a twelve month low of $16.00 and a twelve month high of $59.99. The firm's fifty day moving average price is $21.79 and its 200-day moving average price is $21.24.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping analysts' consensus estimates of ($1.28) by $0.73. The business had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm's revenue was up 2621.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.47) EPS. As a group, analysts anticipate that Sage Therapeutics, Inc. will post -6.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SAGE. Royal Bank of Canada lifted their price objective on Sage Therapeutics from $21.00 to $26.00 and gave the company a "sector perform" rating in a report on Thursday, February 15th. StockNews.com upgraded Sage Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, February 15th. Morgan Stanley lifted their price objective on Sage Therapeutics from $20.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on Sage Therapeutics from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus cut their target price on Sage Therapeutics from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, December 18th. Fifteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.00.

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.