State Street Corp Grows Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

State Street Corp boosted its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC lifted its holdings in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company's stock worth $43,000 after acquiring an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company's stock valued at $85,000 after purchasing an additional 4,672 shares during the period. Creative Planning purchased a new position in shares of Sage Therapeutics during the third quarter worth $88,000. Quest Partners LLC grew its stake in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company's stock valued at $128,000 after buying an additional 1,486 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Sage Therapeutics in the third quarter valued at $146,000. Hedge funds and other institutional investors own 99.22% of the company's stock.

Wall Street Analysts Forecast Growth

SAGE has been the subject of a number of research analyst reports. Robert W. Baird lowered their target price on Sage Therapeutics from $13.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus cut their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating on the stock in a research note on Monday, December 16th. Bank of America decreased their price target 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. Truist Financial reduced their price objective on Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen lowered their target price on Sage Therapeutics from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Sage Therapeutics has a consensus rating of "Hold" and an average price target of $11.53.

Sage Therapeutics Price Performance

Shares of SAGE traded up $0.04 during midday trading on Tuesday, reaching $5.48. 1,812,994 shares of the stock were exchanged, compared to its average volume of 999,719. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $28.26. The company has a market capitalization of $335.23 million, a price-to-earnings ratio of -0.98 and a beta of 0.87. The business's 50-day moving average price is $6.04 and its 200 day moving average price is $8.10.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 337.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.81) EPS. As a group, equities research analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal 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.