Empirical Finance LLC Buys New Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Empirical Finance LLC bought a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,589 shares of the biopharmaceutical company’s stock, valued at approximately $715,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Sage Therapeutics by 622.9% in the second quarter. BNP Paribas Arbitrage SA now owns 1,959 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 1,688 shares in the last quarter. Van ECK Associates Corp acquired a new position in Sage Therapeutics during the second quarter worth $43,000. Dana Investment Advisors Inc. raised its stake in Sage Therapeutics by 27.1% during the second quarter. Dana Investment Advisors Inc. now owns 14,205 shares of the biopharmaceutical company’s stock worth $807,000 after acquiring an additional 3,033 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Sage Therapeutics by 25.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 89,392 shares of the biopharmaceutical company’s stock worth $5,078,000 after acquiring an additional 18,364 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Sage Therapeutics by 36.8% during the second quarter. Citigroup Inc. now owns 114,938 shares of the biopharmaceutical company’s stock worth $6,530,000 after acquiring an additional 30,932 shares in the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.

In other news, CEO Barry E. Greene bought 23,640 shares of the stock in a transaction on Thursday, August 5th. The stock was purchased at an average price of $43.15 per share, with a total value of $1,020,066.00. Following the completion of the purchase, the chief executive officer now owns 32,440 shares of the company’s stock, valued at $1,399,786. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

SAGE opened at $43.60 on Wednesday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 3.44 and a beta of 1.86. The firm has a 50 day simple moving average of $45.62 and a 200 day simple moving average of $62.63. Sage Therapeutics, Inc. has a fifty-two week low of $39.77 and a fifty-two week high of $98.39.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, August 3rd. The biopharmaceutical company reported ($1.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.69) by ($0.14). The business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.01 million. Sage Therapeutics had a negative return on equity of 26.50% and a net margin of 59.79%. The company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period last year, the firm earned ($2.63) earnings per share. As a group, equities analysts anticipate that Sage Therapeutics, Inc. will post -7.25 earnings per share for the current fiscal year.

Several research firms have issued reports on SAGE. William Blair lowered Sage Therapeutics from an “outperform” rating to a “market perform” rating and set a $62.00 price objective for the company. in a research note on Wednesday, June 16th. Stifel Nicolaus dropped their price objective on Sage Therapeutics from $121.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, June 16th. BMO Capital Markets dropped their price objective on Sage Therapeutics from $87.00 to $73.00 and set a “market perform” rating for the company in a research note on Wednesday, June 16th. Citigroup lowered Sage Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $101.00 to $68.00 in a research note on Wednesday, June 16th. Finally, HC Wainwright decreased their price objective on shares of Sage Therapeutics from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, August 4th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.35.

About Sage Therapeutics

SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

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Institutional Ownership by Quarter for Sage Therapeutics (NASDAQ:SAGE)

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