Federated Hermes Inc. Acquires Shares of 670,468 Sage Therapeutics, Inc. (NASDAQ:SAGE)

Federated Hermes Inc. acquired a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 670,468 shares of the biopharmaceutical company’s stock, valued at approximately $7,281,000. Federated Hermes Inc. owned about 1.11% of Sage Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC lifted its position in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sage Therapeutics in the first quarter valued at approximately $127,000. Quest Partners LLC lifted its position in Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 1,486 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Sage Therapeutics during the second quarter valued at approximately $177,000. Finally, AdvisorShares Investments LLC raised its holdings in shares of Sage Therapeutics by 13.6% during the second quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 1,918 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $7.52 on Wednesday. Sage Therapeutics, Inc. has a one year low of $7.19 and a one year high of $28.26. The stock has a market capitalization of $452.57 million, a PE ratio of -0.90 and a beta of 0.91. The business’s fifty day moving average is $9.25 and its 200 day moving average is $12.46.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SAGE shares. The Goldman Sachs Group decreased their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Thursday, August 1st. HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of Sage Therapeutics in a report on Friday, August 2nd. Robert W. Baird decreased their target price on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Finally, TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $16.00 to $10.00 in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.06.

About Sage Therapeutics

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.