Lazard Asset Management LLC Takes $1.21 Million Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 222,726 shares of the biopharmaceutical company’s stock, valued at approximately $1,209,000.

A number of other institutional investors and hedge funds have also modified their holdings of SAGE. Caligan Partners LP purchased a new position in shares of Sage Therapeutics during the fourth quarter valued at $16,575,000. Boothbay Fund Management LLC purchased a new position in Sage Therapeutics in the fourth quarter valued at about $7,540,000. Federated Hermes Inc. grew its stake in Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock valued at $6,004,000 after purchasing an additional 430,432 shares in the last quarter. Jane Street Group LLC grew its stake in Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock valued at $2,509,000 after purchasing an additional 234,528 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Sage Therapeutics in the fourth quarter valued at about $1,172,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $7.07 on Tuesday. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $13.47. The stock has a market capitalization of $442.73 million, a PE ratio of -1.07 and a beta of 0.20. The stock has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $6.72.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data 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). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. During the same period in the prior year, the firm posted ($1.80) EPS. Sage Therapeutics’s revenue for the quarter was up 78.0% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAGE has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. HC Wainwright restated a “neutral” rating and issued a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. StockNews.com downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Wedbush restated a “neutral” rating and issued a $6.00 target price on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and an average target price of $8.81.

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.