Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 120.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 143,034 shares of the biopharmaceutical company’s stock after acquiring an additional 78,190 shares during the quarter. Algert Global LLC owned 0.23% of Sage Therapeutics worth $1,033,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SAGE. Federated Hermes Inc. acquired a new stake in Sage Therapeutics in the 2nd quarter valued at $7,281,000. Renaissance Technologies LLC grew its stake in Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after acquiring an additional 518,296 shares during the period. Cubist Systematic Strategies LLC grew its stake in Sage Therapeutics by 831.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock valued at $5,312,000 after acquiring an additional 436,566 shares during the period. Vanguard Group Inc. grew its stake in Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after acquiring an additional 432,013 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after acquiring an additional 333,805 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SAGE shares. Truist Financial dropped their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Robert W. Baird lowered their target price 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. TD Cowen lowered their target price on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Bank of America lowered their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Trading Down 3.6 %

Shares of SAGE opened at $5.55 on Friday. The firm has a market cap of $339.49 million, a P/E ratio of -0.99 and a beta of 0.92. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $28.26. The company’s 50-day moving average price is $6.53 and its 200 day moving average price is $8.86.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s quarterly revenue was up 337.1% on a year-over-year basis. During the same quarter last year, the firm posted ($2.81) earnings per share. Equities research analysts forecast that Sage Therapeutics, Inc. will post -6.53 earnings per share 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.