Easterly Investment Partners LLC Sells 91,500 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Easterly Investment Partners LLC lessened its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 67.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,102 shares of the biopharmaceutical company's stock after selling 91,500 shares during the quarter. Easterly Investment Partners LLC owned about 0.07% of Sage Therapeutics worth $326,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Bellevue Group AG boosted its stake in Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company's stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Federated Hermes Inc. bought a new stake in shares of Sage Therapeutics in the 2nd quarter worth approximately $7,281,000. Renaissance Technologies LLC lifted its position in shares of Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company's stock worth $6,010,000 after acquiring an additional 518,296 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Sage Therapeutics by 831.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company's stock worth $5,312,000 after acquiring an additional 436,566 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company's stock worth $107,781,000 after acquiring an additional 432,013 shares during the period. Institutional investors own 99.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SAGE shares. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Oppenheimer dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Wednesday, October 30th. StockNews.com cut Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Robert W. Baird dropped their target price on Sage Therapeutics from $13.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen cut Sage Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $16.00 to $10.00 in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.89.

Sage Therapeutics Stock Down 0.2 %

Shares of NASDAQ:SAGE traded down $0.01 during midday trading on Friday, reaching $6.31. The company had a trading volume of 438,774 shares, compared to its average volume of 972,101. The business's 50 day moving average price is $7.18 and its 200 day moving average price is $9.62. The stock has a market cap of $386.00 million, a PE ratio of -1.13 and a beta of 0.92. Sage Therapeutics, Inc. has a 1-year low of $5.64 and a 1-year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Sage Therapeutics's quarterly revenue was up 337.1% compared to the same quarter last year. During the same period last year, the firm earned ($2.81) EPS. On average, research analysts expect that Sage Therapeutics, Inc. will post -6.5 earnings per share for the current fiscal 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.