Pictet Asset Management Ltd. raised its stake in SAGE Therapeutics Inc (NASDAQ:SAGE) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 391,548 shares of the biopharmaceutical company’s stock after buying an additional 10,257 shares during the period. Pictet Asset Management Ltd. owned approximately 0.84% of SAGE Therapeutics worth $55,306,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SAGE. Flinton Capital Management LLC increased its holdings in SAGE Therapeutics by 1,900.0% in the second quarter. Flinton Capital Management LLC now owns 680 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 646 shares in the last quarter. US Bancorp DE increased its holdings in SAGE Therapeutics by 5,593.3% in the second quarter. US Bancorp DE now owns 854 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 839 shares in the last quarter. Creative Planning purchased a new position in SAGE Therapeutics in the second quarter valued at about $210,000. Tiverton Asset Management LLC purchased a new position in SAGE Therapeutics in the second quarter valued at about $229,000. Finally, Opera Trading Capital purchased a new position in SAGE Therapeutics in the third quarter valued at about $233,000.
SAGE has been the subject of a number of recent research reports. BidaskClub raised shares of SAGE Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Canaccord Genuity set a $220.00 price objective on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research note on Thursday, November 1st. Leerink Swann initiated coverage on shares of SAGE Therapeutics in a research note on Monday, November 12th. They set an “underperform” rating and a $80.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of SAGE Therapeutics from $198.00 to $239.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Finally, Oppenheimer set a $170.00 price objective on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $204.14.
Shares of SAGE opened at $114.04 on Friday. SAGE Therapeutics Inc has a 1-year low of $88.03 and a 1-year high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($2.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.41) by ($0.22). During the same period in the previous year, the business posted ($1.97) EPS. On average, equities research analysts forecast that SAGE Therapeutics Inc will post -7.58 earnings per share for the current fiscal year.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).
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