Connor Clark & Lunn Investment Management Ltd. Takes Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Sage Therapeutics, Inc. (NASDAQ:SAGE) in the 3rd quarter, Holdings Channel.com reports. The firm bought 65,562 shares of the biopharmaceutical company’s stock, valued at approximately $473,000.

A number of other institutional investors have also added to or reduced their stakes in SAGE. Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics in the 2nd quarter worth about $7,281,000. Renaissance Technologies LLC lifted its position 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 worth $6,010,000 after buying an additional 518,296 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Sage Therapeutics by 831.2% in the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after buying an additional 436,566 shares in the last quarter. Vanguard Group Inc. raised its position 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 worth $107,781,000 after purchasing an additional 432,013 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Sage Therapeutics by 69.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after purchasing an additional 333,805 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

SAGE stock opened at $5.47 on Friday. The firm has a 50 day moving average price of $6.49 and a 200-day moving average price of $8.81. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $28.26. The firm has a market capitalization of $334.60 million, a price-to-earnings ratio of -0.98 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results 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 firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company’s quarterly revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.81) EPS. As a group, sell-side analysts forecast that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SAGE shares. Truist Financial reduced their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird lowered their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research report on Thursday, November 21st. HC Wainwright reiterated a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday, November 20th. Finally, Bank of America decreased their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.83.

Sage Therapeutics 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.