GAM Holding AG decreased its holdings in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 41.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,500 shares of the biopharmaceutical company’s stock after selling 13,800 shares during the period. GAM Holding AG’s holdings in SAGE Therapeutics were worth $3,101,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in SAGE Therapeutics during the first quarter worth about $31,000. Mckinley Capital Management LLC Delaware raised its holdings in SAGE Therapeutics by 53.3% during the first quarter. Mckinley Capital Management LLC Delaware now owns 282 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 98 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in SAGE Therapeutics during the fourth quarter worth about $29,000. M&R Capital Management Inc. purchased a new position in SAGE Therapeutics during the fourth quarter worth about $28,000. Finally, Cornerstone Advisors Inc. increased its holdings in SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 68 shares in the last quarter.
SAGE has been the subject of a number of research analyst reports. Canaccord Genuity set a $220.00 target price on shares of SAGE Therapeutics and gave the company a “buy” rating in a report on Monday, April 8th. BidaskClub raised shares of SAGE Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Raymond James reaffirmed a “market perform” rating on shares of SAGE Therapeutics in a report on Friday, April 26th. Jefferies Financial Group initiated coverage on shares of SAGE Therapeutics in a report on Thursday, April 25th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Oppenheimer set a $170.00 target price on shares of SAGE Therapeutics and gave the company a “buy” rating in a report on Sunday, May 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $202.15.
Shares of SAGE traded up $2.65 during mid-day trading on Friday, reaching $183.09. 460,700 shares of the company’s stock were exchanged, compared to its average volume of 540,702. SAGE Therapeutics Inc has a 52-week low of $79.88 and a 52-week high of $185.60. The stock’s 50-day simple moving average is $173.78. The company has a market cap of $8.76 billion, a P/E ratio of -22.66 and a beta of 2.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.06 and a current ratio of 20.06.
SAGE Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($3.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($3.17) by ($0.20). The company had revenue of $0.47 million for the quarter. During the same quarter last year, the company earned ($1.68) EPS. On average, equities research analysts predict that SAGE Therapeutics Inc will post -13.19 EPS for the current fiscal year.
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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