First Republic Investment Management Inc. grew its position in SAGE Therapeutics Inc (NASDAQ:SAGE) by 135.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,551 shares of the biopharmaceutical company’s stock after purchasing an additional 3,771 shares during the quarter. First Republic Investment Management Inc.’s holdings in SAGE Therapeutics were worth $1,025,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flinton Capital Management LLC grew its position in SAGE Therapeutics by 1,900.0% during the 2nd quarter. Flinton Capital Management LLC now owns 680 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 646 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SAGE Therapeutics by 5,593.3% in the second quarter. US Bancorp DE now owns 854 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 839 shares in the last quarter. Creative Planning purchased a new stake in shares of SAGE Therapeutics in the second quarter valued at about $210,000. Atria Investments LLC purchased a new stake in shares of SAGE Therapeutics in the second quarter valued at about $218,000. Finally, Tiverton Asset Management LLC purchased a new stake in shares of SAGE Therapeutics in the second quarter valued at about $229,000.
Several analysts have recently weighed in on SAGE shares. BidaskClub downgraded shares of SAGE Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 19th. Morgan Stanley raised their price objective on shares of SAGE Therapeutics from $225.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Piper Jaffray Companies started coverage on shares of SAGE Therapeutics in a research note on Monday, August 6th. They issued an “overweight” rating and a $206.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of SAGE Therapeutics from $198.00 to $239.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, Canaccord Genuity set a $220.00 price objective on shares of SAGE Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. SAGE Therapeutics currently has an average rating of “Buy” and a consensus target price of $204.50.
SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.84) by $1.48. The company had revenue of $90.00 million during the quarter. Equities analysts expect that SAGE Therapeutics Inc will post -7.37 earnings per share for the current year.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).
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