Fisher Asset Management LLC Sells 3,876 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Fisher Asset Management LLC lowered its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 432,545 shares of the biopharmaceutical company’s stock after selling 3,876 shares during the quarter. Fisher Asset Management LLC’s holdings in Sage Therapeutics were worth $3,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC increased its holdings in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sage Therapeutics in the first quarter valued at about $127,000. Virtu Financial LLC bought a new stake in Sage Therapeutics in the first quarter valued at about $187,000. China Universal Asset Management Co. Ltd. increased its holdings in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,672 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE opened at $5.55 on Friday. The stock has a 50 day moving average price of $6.53 and a 200 day moving average price of $8.86. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $28.26. The stock has a market capitalization of $339.49 million, a PE ratio of -0.99 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same period last year, the company posted ($2.81) earnings per share. The business’s revenue for the quarter was up 337.1% on a year-over-year basis. As a group, research analysts forecast that Sage Therapeutics, Inc. will post -6.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SAGE shares. Robert W. Baird dropped their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Scotiabank lowered their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. HC Wainwright restated a “neutral” rating and issued a $14.00 price target on shares of Sage Therapeutics in a report on Wednesday, November 20th. Truist Financial lowered their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.83.

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.