Pioneer Investment Management Inc. boosted its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 126.9% during the second quarter, Holdings Channel reports. The fund owned 158,418 shares of the biopharmaceutical company’s stock after buying an additional 88,585 shares during the period. Pioneer Investment Management Inc.’s holdings in Sage Therapeutics were worth $12,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Ltd. increased its position in shares of Sage Therapeutics by 12.2% in the second quarter. Pictet Asset Management Ltd. now owns 480,013 shares of the biopharmaceutical company’s stock valued at $31,734,000 after buying an additional 52,124 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Sage Therapeutics by 4.9% in the second quarter. TD Asset Management Inc. now owns 76,630 shares of the biopharmaceutical company’s stock valued at $6,103,000 after buying an additional 3,600 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Sage Therapeutics by 2.5% in the second quarter. Essex Investment Management Co. LLC now owns 31,660 shares of the biopharmaceutical company’s stock valued at $2,521,000 after buying an additional 787 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Sage Therapeutics by 49.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 150,273 shares of the biopharmaceutical company’s stock valued at $11,968,000 after buying an additional 49,822 shares during the last quarter. Finally, Emerald Advisers Inc. PA increased its position in shares of Sage Therapeutics by 26.1% in the second quarter. Emerald Advisers Inc. PA now owns 182,804 shares of the biopharmaceutical company’s stock valued at $14,559,000 after buying an additional 37,786 shares during the last quarter.

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) opened at 84.68 on Friday. Sage Therapeutics, Inc. has a 12-month low of $35.02 and a 12-month high of $90.43. The stock’s market cap is $3.17 billion. The firm has a 50-day moving average price of $81.82 and a 200 day moving average price of $70.17.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by $0.25. During the same period in the previous year, the firm earned ($1.08) earnings per share. Equities research analysts predict that Sage Therapeutics, Inc. will post ($7.38) EPS for the current fiscal year.

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Several brokerages recently weighed in on SAGE. Stifel Nicolaus began coverage on shares of Sage Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $104.00 target price for the company. Canaccord Genuity set a $110.00 target price on shares of Sage Therapeutics and gave the company a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reissued a “buy” rating and issued a $100.00 target price on shares of Sage Therapeutics in a research note on Friday, August 4th. Needham & Company LLC set a $95.00 target price on shares of Sage Therapeutics and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, HC Wainwright boosted their target price on shares of Sage Therapeutics to $86.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $89.64.

Sage Therapeutics Company Profile

SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.

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

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