Barclays PLC Lowers Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Barclays PLC trimmed its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,789 shares of the biopharmaceutical company’s stock after selling 10,829 shares during the quarter. Barclays PLC’s holdings in Sage Therapeutics were worth $923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics during the second quarter worth about $7,281,000. Renaissance Technologies LLC increased its holdings in shares of Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the last quarter. State Street Corp raised its position in shares of Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Sage Therapeutics by 831.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after acquiring an additional 287,549 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Price Performance

SAGE opened at $7.44 on Wednesday. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $27.67. The business has a 50 day simple moving average of $5.64 and a two-hundred day simple moving average of $7.53. The firm has a market capitalization of $455.13 million, a price-to-earnings ratio of -1.33 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced 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). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the prior year, the company earned ($2.81) EPS. Sage Therapeutics’s revenue was up 337.1% compared to the same quarter last year. As a group, sell-side analysts expect that Sage Therapeutics, Inc. will post -6.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SAGE has been the subject of several research analyst reports. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price for the company in a research report on Thursday, November 21st. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. TD Cowen decreased their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, Oppenheimer cut their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.53.

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.