Senator Investment Group LP cut its holdings in SAGE Therapeutics Inc (NASDAQ:SAGE) by 33.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the biopharmaceutical company’s stock after selling 75,000 shares during the period. Senator Investment Group LP owned approximately 0.29% of SAGE Therapeutics worth $27,464,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in SAGE Therapeutics by 0.9% in the second quarter. Vanguard Group Inc. now owns 4,606,430 shares of the biopharmaceutical company’s stock worth $843,392,000 after purchasing an additional 40,731 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in SAGE Therapeutics in the second quarter worth $572,000. Tower Research Capital LLC TRC bought a new stake in SAGE Therapeutics in the second quarter worth $111,000. L & S Advisors Inc boosted its holdings in SAGE Therapeutics by 11.5% in the second quarter. L & S Advisors Inc now owns 5,845 shares of the biopharmaceutical company’s stock worth $1,070,000 after purchasing an additional 605 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in SAGE Therapeutics by 2.8% in the second quarter. BlackRock Inc. now owns 2,748,713 shares of the biopharmaceutical company’s stock worth $503,261,000 after purchasing an additional 75,246 shares in the last quarter.
SAGE stock traded up $0.08 during mid-day trading on Tuesday, reaching $165.43. 21,030 shares of the stock traded hands, compared to its average volume of 363,545. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.03. SAGE Therapeutics Inc has a 52 week low of $79.88 and a 52 week high of $193.56. The business has a 50-day moving average of $164.01 and a two-hundred day moving average of $168.23. The firm has a market capitalization of $8.25 billion, a PE ratio of -20.45 and a beta of 2.54.
SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($3.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.32) by $0.04. The firm had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.27 million. During the same quarter last year, the company earned ($0.36) earnings per share. The firm’s revenue was down 99.0% on a year-over-year basis. On average, equities research analysts anticipate that SAGE Therapeutics Inc will post -13.32 EPS for the current fiscal year.
In related news, Director James M. Frates sold 8,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $160.58, for a total value of $1,284,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is currently owned by company insiders.
A number of equities research analysts recently issued reports on SAGE shares. Oppenheimer decreased their price objective on shares of SAGE Therapeutics from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. BidaskClub cut shares of SAGE Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. William Blair restated a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday, July 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday, July 24th. Finally, Wedbush began coverage on shares of SAGE Therapeutics in a report on Wednesday, May 22nd. They set an “outperform” rating and a $207.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $200.27.
SAGE Therapeutics Profile
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
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