Charles Schwab Investment Management Inc. Acquires 43,617 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Charles Schwab Investment Management Inc. grew its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,193 shares of the biopharmaceutical company’s stock after acquiring an additional 43,617 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of Sage Therapeutics worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC lifted its position in Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 valued at $85,000 after buying an additional 4,672 shares in the last quarter. Creative Planning bought a new position in shares of Sage Therapeutics during the 3rd quarter valued at approximately $88,000. Quest Partners LLC increased its holdings in Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Sage Therapeutics during the 3rd quarter worth approximately $146,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SAGE. Scotiabank reduced their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Wedbush cut their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Robert W. Baird cut their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen lowered their price target on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.35.

Sage Therapeutics Stock Down 5.0 %

Sage Therapeutics stock 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’s 50-day moving average price is $6.20 and its 200-day moving average price is $8.36. The company has a market cap of $329.40 million, a PE ratio of -0.97 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share 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 return on equity of 50.29% and a negative net margin of 317.29%. The company’s revenue was up 337.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.81) earnings per share. As a group, sell-side analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Sage Therapeutics 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.