Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 0.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,242,854 shares of the biopharmaceutical company’s stock after purchasing an additional 3,757 shares during the period. Geode Capital Management LLC owned about 2.03% of Sage Therapeutics worth $8,975,000 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 company. Headlands Technologies LLC boosted its position in shares of Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares in the last quarter. Creative Planning purchased a new position in Sage Therapeutics during the 3rd quarter valued at about $88,000. Quest Partners LLC grew its position in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Sage Therapeutics during the third quarter worth about $146,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SAGE shares. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research note on Thursday, November 21st. Oppenheimer decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.53.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $5.43 on Thursday. The company has a fifty day simple moving average of $5.77 and a 200-day simple moving average of $7.85. The stock has a market cap of $332.17 million, a price-to-earnings ratio of -0.97 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.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results 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). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. During the same period last year, the firm earned ($2.81) earnings per share. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. On average, analysts forecast that Sage Therapeutics, Inc. will post -6.53 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.