Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Bought by Advisor Group Holdings Inc.

Advisor Group Holdings Inc. lifted its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 852.5% during the second quarter, HoldingsChannel reports. The fund owned 9,211 shares of the biopharmaceutical company’s stock after acquiring an additional 8,244 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Sage Therapeutics were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in Sage Therapeutics by 1,092.1% during the 1st quarter. Alliancebernstein L.P. now owns 885,916 shares of the biopharmaceutical company’s stock worth $66,311,000 after purchasing an additional 811,600 shares during the period. BlackRock Inc. boosted its holdings in Sage Therapeutics by 13.8% during the first quarter. BlackRock Inc. now owns 3,311,068 shares of the biopharmaceutical company’s stock worth $247,834,000 after buying an additional 400,798 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Sage Therapeutics in the first quarter valued at about $24,977,000. Bellevue Group AG boosted its stake in shares of Sage Therapeutics by 15.5% during the 1st quarter. Bellevue Group AG now owns 1,810,704 shares of the biopharmaceutical company’s stock worth $135,532,000 after acquiring an additional 243,200 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Sage Therapeutics by 25,819.2% in the 1st quarter. Acadian Asset Management LLC now owns 93,050 shares of the biopharmaceutical company’s stock valued at $6,965,000 after purchasing an additional 92,691 shares in the last quarter. 84.72% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Barry E. Greene purchased 23,640 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The shares were purchased at an average price of $43.15 per share, with a total value of $1,020,066.00. Following the purchase, the chief executive officer now directly owns 32,440 shares of the company’s stock, valued at approximately $1,399,786. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.70% of the company’s stock.

A number of brokerages have recently weighed in on SAGE. BMO Capital Markets dropped their price objective on shares of Sage Therapeutics from $87.00 to $73.00 and set a “market perform” rating for the company in a research note on Wednesday, June 16th. William Blair cut shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating and set a $62.00 target price for the company. in a research note on Wednesday, June 16th. Citigroup cut shares of Sage Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $101.00 to $68.00 in a research note on Wednesday, June 16th. Stifel Nicolaus lowered their target price 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, Royal Bank of Canada lowered their target price on shares of Sage Therapeutics from $60.00 to $55.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 4th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and a consensus price target of $81.35.

NASDAQ:SAGE opened at $45.23 on Wednesday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 3.56 and a beta of 1.86. The firm’s fifty day simple moving average is $44.54 and its 200 day simple moving average is $61.15. Sage Therapeutics, Inc. has a twelve month low of $39.77 and a twelve month high of $98.39.

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

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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