Fmr LLC Sells 552,248 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Fmr LLC lowered its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 9.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,271,108 shares of the biopharmaceutical company’s stock after selling 552,248 shares during the period. Fmr LLC owned 8.62% of Sage Therapeutics worth $38,057,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SAGE. Headlands Technologies LLC raised its holdings in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the period. Quest Partners LLC lifted its holdings in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares during the last quarter. Creative Planning bought a new stake in Sage Therapeutics in the 3rd quarter valued at $88,000. Finally, Point72 DIFC Ltd acquired a new position in Sage Therapeutics in the 2nd quarter valued at $153,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SAGE. TD Cowen dropped their target price on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Robert W. Baird cut their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price target (down from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Finally, Scotiabank reduced their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Stock Up 0.2 %

Sage Therapeutics stock opened at $5.61 on Monday. The stock has a market cap of $343.18 million, a PE ratio of -1.01 and a beta of 0.87. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $28.26. The business’s 50-day moving average price is $6.33 and its two-hundred day moving average price is $8.55.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period last year, the firm posted ($2.81) earnings per share. As a group, analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current 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.