State Street Corp Raises Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

State Street Corp grew its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 18.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,926,239 shares of the biopharmaceutical company’s stock after acquiring an additional 451,377 shares during the quarter. State Street Corp owned about 4.78% of Sage Therapeutics worth $21,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics in the second quarter worth $7,281,000. Renaissance Technologies LLC raised its stake 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 acquiring an additional 518,296 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Sage Therapeutics by 831.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the period. Squarepoint Ops LLC grew its stake in Sage Therapeutics by 1,112.0% during the 2nd quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock valued at $3,404,000 after purchasing an additional 287,549 shares during the last quarter. Finally, RTW Investments LP increased its holdings in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Down 3.0 %

SAGE stock opened at $5.44 on Tuesday. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $28.26. The firm has a 50-day simple moving average of $6.04 and a 200-day simple moving average of $8.10. The stock has a market capitalization of $332.78 million, a P/E ratio of -0.97 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results 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 firm had revenue of $11.87 million for 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% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.81) EPS. On average, analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAGE. HC Wainwright reaffirmed a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday, November 20th. Piper Sandler reaffirmed 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. TD Cowen reduced their target price on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Bank of America cut their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.53.

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.