Point72 Asia Singapore Pte. Ltd. Purchases Shares of 20,641 Sage Therapeutics, Inc. (NASDAQ:SAGE)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,641 shares of the biopharmaceutical company’s stock, valued at approximately $112,000.

A number of other hedge funds have also recently bought and sold shares of SAGE. Caligan Partners LP bought a new stake in Sage Therapeutics in the 4th quarter valued at $16,575,000. Boothbay Fund Management LLC bought a new stake in Sage Therapeutics in the 4th quarter valued at $7,540,000. Federated Hermes Inc. boosted its holdings in Sage Therapeutics by 63.7% in the 4th 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 period. Jane Street Group LLC lifted its holdings in shares of Sage Therapeutics by 103.1% during the 4th quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock worth $2,509,000 after acquiring an additional 234,528 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics during the 4th quarter worth about $1,209,000. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Trading Up 4.2%

SAGE opened at $6.89 on Friday. The stock has a market capitalization of $431.46 million, a PE ratio of -1.05 and a beta of 0.20. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $13.47. The firm has a 50-day moving average price of $7.42 and a two-hundred day moving average price of $6.71.

Sage Therapeutics (NASDAQ:SAGE) last posted 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 company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the previous year, the business posted ($1.80) EPS. The company’s revenue was up 78.0% compared to the same quarter last year. On average, research analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SAGE shares. Wedbush reaffirmed a “neutral” rating and set a $6.00 price objective on shares of Sage Therapeutics in a report on Wednesday, February 12th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Scotiabank reduced their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 12th. Bank of America started coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price objective for the company. Finally, Canaccord Genuity Group reduced their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.81.

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.