Public Employees Retirement System of Ohio trimmed its position in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,971 shares of the biopharmaceutical company’s stock after selling 2,950 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of SAGE Therapeutics worth $6,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in shares of SAGE Therapeutics in the 1st quarter worth about $31,000. Cornerstone Advisors Inc. grew its position in shares of SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 68 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of SAGE Therapeutics during the 1st quarter worth approximately $58,000. Wealthstreet Investment Advisors LLC purchased a new position in shares of SAGE Therapeutics during the 1st quarter worth approximately $207,000. Finally, Sawtooth Solutions LLC purchased a new position in shares of SAGE Therapeutics during the 1st quarter worth approximately $233,000.

SAGE has been the topic of a number of recent research reports. BidaskClub lowered SAGE Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday. Oppenheimer dropped their price target on SAGE Therapeutics from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. William Blair reissued a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday, July 24th. Wedbush started coverage on SAGE Therapeutics in a report on Wednesday, May 22nd. They issued an “outperform” rating and a $207.00 price target for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $200.27.

In other SAGE Therapeutics news, Director James M. Frates sold 8,000 shares of SAGE Therapeutics stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $160.58, for a total value of $1,284,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.60% of the stock is currently owned by company insiders.

Shares of SAGE stock traded up $5.37 during mid-day trading on Wednesday, hitting $157.14. 7,830 shares of the company’s stock were exchanged, compared to its average volume of 349,455. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -19.36 and a beta of 2.55. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.03. SAGE Therapeutics Inc has a fifty-two week low of $79.88 and a fifty-two week high of $193.56. The stock has a 50-day simple moving average of $164.99 and a two-hundred day simple moving average of $168.09.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($3.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.32) by $0.04. The business had revenue of $0.87 million during the quarter, compared to analyst estimates of $0.27 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The business’s revenue for the quarter was down 99.0% compared to the same quarter last year. As a group, analysts anticipate that SAGE Therapeutics Inc will post -13.32 earnings per share for the current fiscal year.

SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

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

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