abrdn plc Makes New Investment in Sage Therapeutics, Inc. (NASDAQ:SAGE)

abrdn plc acquired a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 64,801 shares of the biopharmaceutical company’s stock, valued at approximately $1,404,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC lifted its holdings in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sage Therapeutics by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 1,375 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Sage Therapeutics in the third quarter valued at about $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sage Therapeutics by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 2,967 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Trading Up 3.6 %

SAGE opened at $14.18 on Tuesday. The company has a market cap of $853.38 million, a P/E ratio of -1.69 and a beta of 0.86. The company’s 50 day moving average is $18.38 and its 200-day moving average is $20.61. Sage Therapeutics, Inc. has a 1-year low of $10.92 and a 1-year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.46) EPS. On average, equities analysts forecast that Sage Therapeutics, Inc. will post -6.49 EPS for the current year.

Wall Street Analyst Weigh In

SAGE has been the subject of a number of recent research reports. Oppenheimer cut their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada cut their price target on Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. TD Cowen cut their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their target price on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.72.

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.