The Manufacturers Life Insurance Company Lowers Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

The Manufacturers Life Insurance Company reduced its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,364 shares of the biopharmaceutical company’s stock after selling 6,786 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of Sage Therapeutics worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd grew its position in shares of Sage Therapeutics by 100.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,549 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 14,340 shares in the last quarter. Algert Global LLC lifted its stake in Sage Therapeutics by 120.6% in the third quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,033,000 after acquiring an additional 78,190 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Sage Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after acquiring an additional 43,617 shares in the last quarter. Intech Investment Management LLC bought a new position in Sage Therapeutics during the 3rd quarter worth about $146,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sage Therapeutics during the 3rd quarter valued at about $473,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SAGE has been the topic of a number of recent research reports. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research note on Thursday, November 21st. Bank of America dropped their target price 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. Truist Financial reduced their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird decreased their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.35.

Sage Therapeutics Trading Down 5.0 %

NASDAQ:SAGE opened at $5.39 on Friday. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $28.26. The company has a market cap of $329.40 million, a PE ratio of -0.97 and a beta of 0.87. The company’s 50 day moving average is $6.20 and its two-hundred day moving average is $8.36.

Sage Therapeutics (NASDAQ:SAGE) last announced 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 company had revenue of $11.87 million for 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 period last year, the firm earned ($2.81) earnings per share. As a group, analysts expect that Sage Therapeutics, Inc. will post -6.53 EPS 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.