Easterly Investment Partners LLC Sells 13,041 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Easterly Investment Partners LLC lessened its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,602 shares of the biopharmaceutical company’s stock after selling 13,041 shares during the period. Easterly Investment Partners LLC owned about 0.18% of Sage Therapeutics worth $2,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $8,052,000. Hudson Bay Capital Management LP grew its holdings in shares of Sage Therapeutics by 1,733.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock worth $5,660,000 after acquiring an additional 260,000 shares during the period. Wellington Management Group LLP grew its holdings in shares of Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after acquiring an additional 208,630 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of 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 during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Sage Therapeutics by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock worth $107,181,000 after acquiring an additional 175,565 shares during the period. Institutional investors own 99.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Baird R W upgraded Sage Therapeutics to a “hold” rating in a report on Wednesday, May 29th. Canaccord Genuity Group cut their price target on Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Sage Therapeutics from $28.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Citigroup started coverage on Sage Therapeutics in a research note on Wednesday, May 29th. They issued a “sell” rating and a $8.00 price target on the stock. Finally, Wedbush reiterated a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.80.

Sage Therapeutics Price Performance

Sage Therapeutics stock traded down $0.44 during trading on Wednesday, reaching $11.03. The company had a trading volume of 223,452 shares, compared to its average volume of 1,115,659. Sage Therapeutics, Inc. has a 52 week low of $9.76 and a 52 week high of $49.74. The firm’s 50-day simple moving average is $11.48 and its 200 day simple moving average is $17.70.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The company had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same period in the prior year, the business posted ($2.46) earnings per share. Sage Therapeutics’s revenue for the quarter was up 139.4% compared to the same quarter last year. Sell-side analysts anticipate that Sage Therapeutics, Inc. will post -6.51 earnings per share for the current year.

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.