E Fund Management Co. Ltd. Sells 4,678 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

E Fund Management Co. Ltd. decreased its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,482 shares of the biopharmaceutical company’s stock after selling 4,678 shares during the period. E Fund Management Co. Ltd.’s holdings in Sage Therapeutics were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Sage Therapeutics by 3.3% in the third quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after acquiring an additional 208,630 shares during the period. Vanguard Group Inc. boosted its stake in Sage Therapeutics by 3.5% during the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after buying an additional 175,565 shares during the last quarter. RTW Investments LP bought a new position in Sage Therapeutics during the third quarter valued at approximately $105,976,000. Palo Alto Investors LP boosted its stake in Sage Therapeutics by 17.0% during the third quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock valued at $20,699,000 after buying an additional 146,259 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Sage Therapeutics by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 431,519 shares of the biopharmaceutical company’s stock valued at $9,351,000 after buying an additional 31,900 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Analyst Upgrades and Downgrades

SAGE has been the subject of a number of research reports. The Goldman Sachs Group dropped their price target on Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. HC Wainwright dropped their price target on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Morgan Stanley increased their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, TD Cowen lowered their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus price target of $37.67.

Sage Therapeutics Price Performance

SAGE traded down $0.05 on Thursday, reaching $12.34. 889,669 shares of the stock were exchanged, compared to its average volume of 1,018,889. The company’s 50-day moving average price is $17.10 and its 200 day moving average price is $20.32. Sage Therapeutics, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The firm has a market capitalization of $742.65 million, a PE ratio of -1.48 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. During the same period in the prior year, the firm posted ($2.46) EPS. The business’s revenue was up 139.4% compared to the same quarter last year. As a group, equities analysts forecast that Sage Therapeutics, Inc. will post -6.53 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.