Assenagon Asset Management S.A. Purchases 143,075 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Assenagon Asset Management S.A. increased its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 1,058.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,593 shares of the biopharmaceutical company's stock after purchasing an additional 143,075 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.26% of Sage Therapeutics worth $2,935,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Sage Therapeutics by 8.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company's stock worth $1,247,000 after purchasing an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company's stock worth $4,358,000 after purchasing an additional 183,607 shares during the period. Vanguard Group Inc. raised its holdings in shares of Sage Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company's stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company's stock worth $9,360,000 after purchasing an additional 32,306 shares during the period. Finally, Caxton Associates LP raised its holdings in shares of Sage Therapeutics by 76.1% in the 4th quarter. Caxton Associates LP now owns 119,781 shares of the biopharmaceutical company's stock worth $2,596,000 after purchasing an additional 51,746 shares during the period. Institutional investors own 99.22% of the company's stock.

Analyst Upgrades and Downgrades

SAGE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Sage Therapeutics from $26.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, April 26th. StockNews.com raised shares of Sage Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, April 27th. Wedbush reissued a "neutral" rating and set a $24.00 target price on shares of Sage Therapeutics in a report on Wednesday, April 17th. Bank of America cut shares of Sage Therapeutics from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $24.00 to $14.00 in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group lowered their target price on shares of Sage Therapeutics from $21.00 to $17.00 and set a "hold" rating on the stock in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of "Hold" and an average price target of $37.67.

Sage Therapeutics Stock Performance

SAGE traded down $0.52 during trading on Monday, reaching $11.18. The stock had a trading volume of 3,913,031 shares, compared to its average volume of 1,051,994. The stock has a market cap of $672.81 million, a PE ratio of -1.33 and a beta of 0.91. Sage Therapeutics, Inc. has a one year low of $10.92 and a one year high of $59.99. The business has a 50-day moving average of $15.56 and a 200-day moving average of $19.94.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts' consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The firm had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same period in the prior year, the company earned ($2.46) EPS. The firm's revenue was up 139.4% compared to the same quarter last year. Equities research analysts forecast that Sage Therapeutics, Inc. will post -6.53 EPS for the current fiscal year.

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.

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