Sage Therapeutics, Inc. (NASDAQ:SAGE) Short Interest Update

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 5,670,000 shares, a decline of 27.3% from the June 15th total of 7,800,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 11.5% of the shares of the company are short sold.

Sage Therapeutics Price Performance

SAGE traded down $0.01 during midday trading on Monday, reaching $11.75. 152,352 shares of the company’s stock were exchanged, compared to its average volume of 1,107,742. The stock has a market capitalization of $707.12 million, a PE ratio of -1.39 and a beta of 0.90. The business’s 50-day moving average price is $11.36 and its 200 day moving average price is $17.48. Sage Therapeutics has a 1-year low of $9.76 and a 1-year high of $47.78.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The business’s revenue was up 139.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) EPS. As a group, analysts expect that Sage Therapeutics will post -6.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAGE. Bellevue Group AG raised its position in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after buying an additional 432,013 shares during the last quarter. Baker BROS. Advisors LP acquired a new position in shares of Sage Therapeutics in the first quarter valued at approximately $7,631,000. Price T Rowe Associates Inc. MD raised its position in shares of Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its position in shares of Sage Therapeutics by 1,733.3% in the third quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after buying an additional 260,000 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SAGE. Wedbush restated a “neutral” rating and issued a $24.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Baird R W upgraded shares of Sage Therapeutics to a “hold” rating in a research note on Wednesday, May 29th. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a report on Tuesday, July 2nd. Scotiabank lowered their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. Finally, Truist Financial lowered their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and an average price target of $34.55.

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.