Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,242,854 shares of the biopharmaceutical company’s stock after purchasing an additional 3,757 shares during the period. Geode Capital Management LLC’s holdings in Sage Therapeutics were worth $8,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAGE. Headlands Technologies LLC raised its holdings in shares of 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 buying an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 66.1% in 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 period. Creative Planning purchased a new stake in Sage Therapeutics during the 3rd quarter valued at approximately $88,000. Quest Partners LLC raised its stake in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Sage Therapeutics during the 3rd quarter worth approximately $146,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Performance

Sage Therapeutics stock opened at $5.43 on Thursday. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $28.26. The firm has a market capitalization of $332.17 million, a price-to-earnings ratio of -0.97 and a beta of 0.87. The stock’s fifty day moving average is $5.77 and its two-hundred day moving average is $7.85.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, December 16th. Piper Sandler restated an “overweight” rating and set a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Robert W. Baird reduced their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note 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 target on the stock in a research note on Thursday, November 21st. Finally, Bank of America reduced their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.53.

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.