Russell Investments Group Ltd. Trims Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Russell Investments Group Ltd. trimmed its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 6.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 41,538 shares of the biopharmaceutical company’s stock after selling 2,867 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sage Therapeutics were worth $2,352,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SAGE. Hussman Strategic Advisors Inc. acquired a new position in shares of Sage Therapeutics in the 2nd quarter valued at $4,227,000. Advisor Group Holdings Inc. raised its position in Sage Therapeutics by 852.5% in the second quarter. Advisor Group Holdings Inc. now owns 9,211 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 8,244 shares during the period. Islay Capital Management LLC purchased a new position in shares of Sage Therapeutics during the second quarter worth $84,000. Baillie Gifford & Co. grew its stake in shares of Sage Therapeutics by 15.1% in the second quarter. Baillie Gifford & Co. now owns 80,265 shares of the biopharmaceutical company’s stock valued at $4,559,000 after buying an additional 10,516 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Sage Therapeutics by 1.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 77,973 shares of the biopharmaceutical company’s stock valued at $4,430,000 after buying an additional 968 shares during the period. 84.72% of the stock is owned by institutional investors.

Shares of NASDAQ:SAGE opened at $43.60 on Wednesday. The firm has a 50 day simple moving average of $45.62 and a 200-day simple moving average of $62.63. Sage Therapeutics, Inc. has a twelve month low of $39.77 and a twelve month high of $98.39. The company has a market capitalization of $2.56 billion, a PE ratio of 3.44 and a beta of 1.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, August 3rd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.14). The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.01 million. Sage Therapeutics had a negative return on equity of 26.50% and a net margin of 59.79%. The business’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.63) EPS. As a group, equities research analysts expect that Sage Therapeutics, Inc. will post -7.25 EPS for the current fiscal year.

In related news, CEO Barry E. Greene bought 23,640 shares of the stock in a transaction on Thursday, August 5th. The shares were bought at an average cost of $43.15 per share, for a total transaction of $1,020,066.00. Following the purchase, the chief executive officer now owns 32,440 shares of the company’s stock, valued at approximately $1,399,786. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.

Several research firms have weighed in on SAGE. reaffirmed a “neutral” rating and issued a $68.00 target price (down from $101.00) on shares of Sage Therapeutics in a research report on Wednesday, June 16th. Royal Bank of Canada dropped their price objective on shares of Sage Therapeutics from $60.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, August 4th. Canaccord Genuity reduced their target price on shares of Sage Therapeutics from $119.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, July 27th. They noted that the move was a valuation call. Stifel Nicolaus dropped their price target on shares of Sage Therapeutics from $121.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, June 16th. Finally, HC Wainwright reduced their price objective on Sage Therapeutics from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 4th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.35.

Sage Therapeutics Company Profile

SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

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Institutional Ownership by Quarter for Sage Therapeutics (NASDAQ:SAGE)

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