Charles Schwab Investment Management Inc. Boosts Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

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

A number of other hedge funds have also recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in Sage Therapeutics during the 2nd quarter valued at $7,281,000. Renaissance Technologies LLC lifted its position in shares of Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after purchasing an additional 518,296 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Sage Therapeutics during the second quarter valued at $1,008,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sage Therapeutics in the third quarter worth about $473,000. Finally, Squarepoint Ops LLC increased its stake in Sage Therapeutics by 1,112.0% in the 2nd quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after buying an additional 287,549 shares during the period. Institutional investors own 99.22% of the company’s stock.

Wall Street Analysts Forecast Growth

SAGE has been the topic of a number of research analyst reports. Wedbush dropped their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America dropped their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. TD Cowen cut their target price on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Finally, Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.35.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $5.39 on Friday. The stock’s fifty day moving average price is $6.20 and its 200 day moving average price is $8.36. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $28.26. The company has a market cap of $329.40 million, a price-to-earnings ratio of -0.97 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data 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 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%. The business’s revenue was up 337.1% compared to the same quarter last year. During the same quarter last year, the company earned ($2.81) EPS. As a group, equities research analysts anticipate 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.