Sage Therapeutics, Inc. (NASDAQ:SAGE) Sees Large Decrease in Short Interest

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,830,000 shares, a decrease of 24.6% from the December 15th total of 6,410,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 9.0% of the shares of the stock are sold short.

Analyst Ratings Changes

SAGE has been the topic of a number of research analyst reports. Robert W. Baird dropped their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler dropped their target price on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Truist Financial reduced their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Wedbush decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Oppenheimer cut their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.53.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in Sage Therapeutics during the 2nd quarter worth about $7,281,000. Renaissance Technologies LLC increased its stake in Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after purchasing an additional 518,296 shares during the period. State Street Corp lifted its position in shares of Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Sage Therapeutics by 831.2% in the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock valued at $5,312,000 after purchasing an additional 436,566 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock valued at $3,404,000 after purchasing an additional 287,549 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Stock Up 1.6 %

Shares of SAGE traded up $0.11 during trading on Friday, reaching $7.08. 4,917,688 shares of the company traded hands, compared to its average volume of 3,616,735. The stock has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $7.50. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $27.67. The stock has a market cap of $433.08 million, a PE ratio of -1.27 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same quarter last year, the business posted ($2.81) EPS. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. On average, equities research analysts predict that Sage Therapeutics will post -6.45 EPS for the current year.

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.