Nuveen LLC Purchases Shares of 598,305 Sage Therapeutics, Inc. $SAGE

Nuveen LLC acquired a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 598,305 shares of the biopharmaceutical company’s stock, valued at approximately $4,757,000. Nuveen LLC owned 0.96% of Sage Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAGE. Headlands Technologies LLC bought a new stake in Sage Therapeutics during the first quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in Sage Therapeutics by 16,118.0% during the first quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 8,059 shares in the last quarter. Merit Financial Group LLC bought a new stake in Sage Therapeutics during the first quarter worth approximately $87,000. ProShare Advisors LLC raised its holdings in Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sage Therapeutics during the fourth quarter worth approximately $112,000. Institutional investors own 99.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen raised Sage Therapeutics to a “hold” rating in a report on Saturday, August 2nd. Canaccord Genuity Group boosted their target price on Sage Therapeutics from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Tuesday, June 17th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Monday, June 16th. Robert W. Baird boosted their target price on shares of Sage Therapeutics from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, June 20th. Finally, Scotiabank lowered Sage Therapeutics from a “strong-buy” rating to a “hold” rating and reduced their target price for the stock from $12.00 to $9.20 in a research note on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics has a consensus rating of “Reduce” and an average target price of $7.85.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $8.68 on Wednesday. The company has a market cap of $543.54 million, a price-to-earnings ratio of -1.78 and a beta of 0.26. The stock has a 50 day simple moving average of $8.93 and a 200-day simple moving average of $7.84. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $11.44.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.17. The business had revenue of $31.66 million during the quarter, compared to the consensus estimate of $16.69 million. Sage Therapeutics had a negative return on equity of 67.10% and a negative net margin of 427.78%.The company’s revenue for the quarter was up 266.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.70) EPS. On average, equities analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Sage Therapeutics Company 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.