TD Asset Management Inc Reduces Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

TD Asset Management Inc decreased its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 47.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,474 shares of the biopharmaceutical company’s stock after selling 51,800 shares during the period. TD Asset Management Inc owned about 0.10% of Sage Therapeutics worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sage Therapeutics by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 413,905 shares of the biopharmaceutical company’s stock worth $8,969,000 after buying an additional 4,918 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Sage Therapeutics during the 4th quarter valued at about $560,000. Trexquant Investment LP bought a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $2,234,000. Quest Partners LLC purchased a new position in Sage Therapeutics during the fourth quarter valued at approximately $261,000. Finally, RTW Investments LP raised its stake in Sage Therapeutics by 0.9% in the fourth quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after buying an additional 47,537 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $7.83 on Monday. Sage Therapeutics, Inc. has a one year low of $7.19 and a one year high of $28.26. The business has a fifty day moving average price of $9.40 and a 200 day moving average price of $12.73.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the company earned ($2.68) earnings per share. Sage Therapeutics’s revenue for the quarter was up 249.8% on a year-over-year basis. On average, equities research analysts expect that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Thursday, August 1st. Truist Financial decreased their target price on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price target on shares of Sage Therapeutics in a research report on Friday, August 2nd. Mizuho dropped their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, Robert W. Baird decreased their price target on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.06.

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.