Cowen AND Company LLC Cuts Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Cowen AND Company LLC lessened its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 50.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,232 shares of the biopharmaceutical company’s stock after selling 218,846 shares during the quarter. Cowen AND Company LLC owned about 0.35% of Sage Therapeutics worth $2,327,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bellevue Group AG lifted its stake in shares of Sage Therapeutics by 27.1% in 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in shares of Sage Therapeutics in the first quarter worth $7,631,000. Price T Rowe Associates Inc. MD boosted its stake in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after acquiring an additional 333,805 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Sage Therapeutics by 1,049.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Trading Down 1.7 %

Shares of Sage Therapeutics stock traded down $0.13 on Monday, hitting $7.37. The company had a trading volume of 19,292 shares, compared to its average volume of 1,041,560. The business has a 50-day simple moving average of $9.72 and a 200-day simple moving average of $13.19. Sage Therapeutics, Inc. has a 52 week low of $7.30 and a 52 week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.02). The business had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business’s revenue for the quarter was up 249.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.68) EPS. As a group, equities research analysts expect that Sage Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on SAGE shares. Baird R W raised Sage Therapeutics to a “hold” rating in a report on Wednesday, May 29th. The Goldman Sachs Group dropped their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Mizuho decreased their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Scotiabank lowered their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. Finally, Robert W. Baird cut their target price on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sage Therapeutics has an average rating of “Hold” and an average target price of $16.06.

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.