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Harbor Capital Advisors Inc. acquired a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,053 shares of the biopharmaceutical company’s stock, valued at approximately $990,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its position in shares of Sage Therapeutics by 8.9% in the first quarter. Pinnacle Associates Ltd. now owns 186,985 shares of the biopharmaceutical company’s stock valued at $7,846,000 after purchasing an additional 15,204 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Sage Therapeutics by 95.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,665 shares of the biopharmaceutical company’s stock valued at $4,411,000 after purchasing an additional 56,482 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Sage Therapeutics by 9.6% in the first quarter. E Fund Management Co. Ltd. now owns 9,412 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 824 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Sage Therapeutics in the first quarter valued at about $710,000. Finally, PAX Financial Group LLC acquired a new stake in shares of Sage Therapeutics in the first quarter valued at about $509,000. 89.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SAGE shares. Bank of America dropped their target price on shares of Sage Therapeutics from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 price target (down from $75.00) on shares of Sage Therapeutics in a research report on Tuesday, August 8th. Mizuho boosted their price target on shares of Sage Therapeutics from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, September 7th. Barclays lowered their price target on shares of Sage Therapeutics from $311.00 to $294.00 in a research report on Monday, August 7th. Finally, Morgan Stanley lowered their price target on shares of Sage Therapeutics from $49.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $43.57.
View Our Latest Analysis on Sage Therapeutics

Sage Therapeutics Stock Down 3.4 %

Shares of SAGE opened at $20.30 on Tuesday. Sage Therapeutics, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $59.99. The firm’s 50 day moving average price is $28.47 and its 200 day moving average price is $41.08.
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($2.55) by ($0.13). Sage Therapeutics had a negative return on equity of 49.82% and a negative net margin of 5,704.03%. The business had revenue of $2.47 million for the quarter, compared to analysts’ expectations of $2.94 million. During the same period in the previous year, the company earned ($2.13) earnings per share. Sage Therapeutics’s quarterly revenue was up 64.7% on a year-over-year basis. On average, equities research analysts forecast that Sage Therapeutics, Inc. will post -8.93 EPS for the current fiscal year.

Insider Activity

In related news, Director Elizabeth Barrett bought 2,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $18.64 per share, for a total transaction of $37,280.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $55,920. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.30% of the company’s stock.

Sage Therapeutics Company Profile

(Free Report)
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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

Featured Stories

Want to see what other hedge funds are holding SAGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sage Therapeutics, Inc. (NASDAQ:SAGE – Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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