Picton Mahoney Asset Management Has $35,000 Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Picton Mahoney Asset Management raised its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 126.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,423 shares of the biopharmaceutical company’s stock after purchasing an additional 3,581 shares during the quarter. Picton Mahoney Asset Management’s holdings in Sage Therapeutics were worth $35,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ieq Capital LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at about $57,000. US Bancorp DE boosted its position in Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares in the last quarter. Empowered Funds LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at about $91,000. SG Americas Securities LLC boosted its position in Sage Therapeutics by 57.7% in the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 8,228 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Sage Therapeutics by 56.3% during the third quarter. Quest Partners LLC now owns 18,381 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 6,618 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Scotiabank lowered 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 research report on Wednesday, February 12th. Finally, Bank of America started coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $8.02 on Tuesday. The firm has a 50-day moving average of $7.18 and a 200-day moving average of $6.70. The stock has a market cap of $493.08 million, a PE ratio of -1.22 and a beta of 0.82. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $20.32.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. As a group, analysts predict that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

About Sage Therapeutics

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.