GAMMA Investing LLC Purchases 8,059 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

GAMMA Investing LLC raised its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 16,118.0% during the first quarter, Holdings Channel reports. The fund owned 8,109 shares of the biopharmaceutical company’s stock after acquiring an additional 8,059 shares during the period. GAMMA Investing LLC’s holdings in Sage Therapeutics were worth $64,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Caligan Partners LP bought a new position in shares of Sage Therapeutics in the fourth quarter worth about $16,575,000. Millennium Management LLC raised its stake in shares of Sage Therapeutics by 8.3% in the fourth quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company’s stock worth $8,817,000 after buying an additional 124,720 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Sage Therapeutics in the fourth quarter worth about $7,540,000. Geode Capital Management LLC raised its stake in shares of Sage Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company’s stock worth $6,827,000 after buying an additional 14,049 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock worth $6,004,000 after buying an additional 430,432 shares during the period. Institutional investors own 99.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America assumed coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Robert W. Baird raised their price objective on Sage Therapeutics from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, June 20th. Canaccord Genuity Group raised their price objective on Sage Therapeutics from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $9.25 on Thursday. The stock has a market capitalization of $579.24 million, a PE ratio of -1.59 and a beta of 0.18. The business has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $7.05. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The firm had revenue of $14.06 million for the quarter, compared to analysts’ expectations of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The business’s quarterly revenue was up 78.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.80) EPS. On average, analysts anticipate that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Sage Therapeutics Company Profile

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.