Bank of America Corp DE Sells 355,277 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Bank of America Corp DE lessened its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 52.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 316,673 shares of the biopharmaceutical company’s stock after selling 355,277 shares during the quarter. Bank of America Corp DE owned approximately 0.52% of Sage Therapeutics worth $1,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SAGE. SG Americas Securities LLC boosted its stake in shares of Sage Therapeutics by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 8,228 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Sage Therapeutics in the 4th quarter valued at about $91,000. Ieq Capital LLC acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at approximately $57,000. US Bancorp DE raised its position in shares of Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 2,268 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sage Therapeutics by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company’s stock valued at $2,510,000 after acquiring an additional 10,116 shares during the period. Institutional investors own 99.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SAGE shares. Wedbush reiterated a “neutral” rating and issued a $6.00 price target on shares of Sage Therapeutics in a research report on Wednesday, February 12th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Scotiabank cut their price target on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 12th. Wall Street Zen upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.87.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $6.53 on Wednesday. The company has a market capitalization of $408.92 million, a P/E ratio of -0.99 and a beta of 0.20. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $13.47. The company’s 50 day moving average price is $7.07 and its two-hundred day moving average price is $6.77.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Sage Therapeutics’s revenue was up 78.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.80) earnings per share. Analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current 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.