Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Acquired by State Street Corp

State Street Corp lifted its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,926,239 shares of the biopharmaceutical company’s stock after purchasing an additional 451,377 shares during the quarter. State Street Corp’s holdings in Sage Therapeutics were worth $21,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAGE. Headlands Technologies LLC grew its holdings in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,672 shares during the last quarter. Creative Planning purchased a new stake in shares of Sage Therapeutics in the third quarter valued at about $88,000. Quest Partners LLC increased its position in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Sage Therapeutics during the third quarter worth about $146,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a research note on Thursday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Stifel Nicolaus lowered their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a report on Monday, December 16th. Piper Sandler restated an “overweight” rating and issued a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Finally, Scotiabank lowered their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $11.53.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $5.44 on Tuesday. The company has a market cap of $332.78 million, a price-to-earnings ratio of -0.97 and a beta of 0.87. The stock’s 50-day moving average is $6.04 and its two-hundred day moving average is $8.10. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $28.26.

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

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.