Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P grew its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 55.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,077 shares of the biopharmaceutical company’s stock after acquiring an additional 16,717 shares during the period. Martingale Asset Management L P owned about 0.08% of Sage Therapeutics worth $340,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SAGE. Virtu Financial LLC acquired a new position in Sage Therapeutics in the 1st quarter worth about $187,000. Federated Hermes Inc. purchased a new stake in shares of Sage Therapeutics in the second quarter valued at approximately $7,281,000. Renaissance Technologies LLC raised its stake in shares of Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the period. AQR Capital Management LLC purchased a new position in shares of Sage Therapeutics during the 2nd quarter valued at approximately $1,008,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sage Therapeutics in the 3rd quarter valued at $473,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Performance

SAGE stock opened at $5.60 on Wednesday. The firm has a market cap of $342.55 million, a PE ratio of -1.00 and a beta of 0.87. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $28.26. The firm’s 50 day moving average price is $6.43 and its 200-day moving average price is $8.68.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sage Therapeutics’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.81) EPS. Equities research analysts predict that Sage Therapeutics, Inc. will post -6.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Piper Sandler restated an “overweight” rating and set a $26.00 price target (down previously from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Bank of America cut their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Truist Financial reduced their target price 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, Robert W. Baird dropped their price target on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.83.

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.