BNP Paribas Financial Markets Increases Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

BNP Paribas Financial Markets lifted its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 52.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,986 shares of the biopharmaceutical company’s stock after purchasing an additional 24,356 shares during the quarter. BNP Paribas Financial Markets’ holdings in Sage Therapeutics were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SAGE. Headlands Technologies LLC raised its position 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 purchasing an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in 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 valued at $85,000 after buying an additional 4,672 shares during the last quarter. Creative Planning purchased a new position in Sage Therapeutics during the third quarter valued at $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 purchased a new position in shares of Sage Therapeutics during the 3rd quarter valued at $146,000. 99.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SAGE has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Bank of America reduced their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. 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. Finally, HC Wainwright restated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.35.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $5.39 on Friday. The stock has a market cap of $329.40 million, a PE ratio of -0.97 and a beta of 0.87. Sage Therapeutics, Inc. has a 1 year low of $4.62 and a 1 year high of $28.26. The firm has a fifty day moving average price of $6.20 and a 200 day moving average price of $8.38.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to analyst estimates 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 revenue was up 337.1% on a year-over-year basis. During the same quarter last year, the business earned ($2.81) earnings per share. As a group, equities analysts expect that Sage Therapeutics, Inc. will post -6.53 EPS 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.