Jacobs Levy Equity Management Inc. Lowers Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Jacobs Levy Equity Management Inc. trimmed its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 25.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 555,213 shares of the biopharmaceutical company’s stock after selling 187,645 shares during the period. Jacobs Levy Equity Management Inc. owned 0.92% of Sage Therapeutics worth $10,405,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after acquiring an additional 175,565 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sage Therapeutics during the 4th quarter worth about $293,000. China Universal Asset Management Co. Ltd. raised its stake in Sage Therapeutics by 353.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 5,406 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Sage Therapeutics by 3,361.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,040 shares of the biopharmaceutical company’s stock valued at $413,000 after purchasing an additional 18,490 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sage Therapeutics by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 2,967 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank reduced their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 25th. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a report on Thursday, July 25th. Wedbush reiterated a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research report on Wednesday, April 17th. Robert W. Baird decreased their price target on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, Oppenheimer dropped their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $33.25.

Sage Therapeutics Trading Up 2.4 %

SAGE stock traded up $0.26 during midday trading on Wednesday, hitting $11.06. 242,688 shares of the company’s stock were exchanged, compared to its average volume of 1,103,277. The stock has a market capitalization of $665.59 million, a price-to-earnings ratio of -1.29 and a beta of 0.90. The firm has a 50 day moving average price of $11.25 and a 200-day moving average price of $16.47. Sage Therapeutics, Inc. has a 12-month low of $9.73 and a 12-month high of $37.17.

Sage Therapeutics Company 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.