Boothbay Fund Management LLC Buys New Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Boothbay Fund Management LLC purchased a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,388,503 shares of the biopharmaceutical company's stock, valued at approximately $7,540,000. Boothbay Fund Management LLC owned about 2.27% of Sage Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SAGE. Picton Mahoney Asset Management lifted its stake in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 3,581 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics during the fourth quarter worth approximately $49,000. Ieq Capital LLC purchased a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $57,000. US Bancorp DE boosted its holdings in shares of Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 2,268 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Sage Therapeutics by 21.6% during the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock worth $75,000 after acquiring an additional 2,446 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wedbush reaffirmed a "neutral" rating and set a $6.00 price objective on shares of Sage Therapeutics in a report on Wednesday, February 12th. Scotiabank dropped their price target on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, February 12th. 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 for the company. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research report on Friday. Finally, HC Wainwright reiterated a "neutral" rating and issued a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $7.79 on Friday. The stock has a market capitalization of $478.94 million, a price-to-earnings ratio of -1.18 and a beta of 0.48. The business's 50 day moving average is $7.52 and its two-hundred day moving average is $6.75. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $14.71.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Equities analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Sage Therapeutics 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.

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