Strs Ohio Has $184,000 Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Strs Ohio cut its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) by 40.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,700 shares of the biopharmaceutical company’s stock after selling 3,200 shares during the quarter. Strs Ohio’s holdings in Sage Therapeutics were worth $184,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in Sage Therapeutics by 33.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 97,533 shares of the biopharmaceutical company’s stock valued at $3,819,000 after buying an additional 24,367 shares in the last quarter. Clarius Group LLC boosted its stake in Sage Therapeutics by 5.4% in the third quarter. Clarius Group LLC now owns 10,726 shares of the biopharmaceutical company’s stock valued at $420,000 after buying an additional 549 shares in the last quarter. Foundry Partners LLC boosted its stake in Sage Therapeutics by 19.4% in the third quarter. Foundry Partners LLC now owns 50,856 shares of the biopharmaceutical company’s stock valued at $1,992,000 after buying an additional 8,264 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Sage Therapeutics in the third quarter valued at about $212,000. Finally, Exchange Traded Concepts LLC boosted its stake in Sage Therapeutics by 14.4% in the third quarter. Exchange Traded Concepts LLC now owns 2,749 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 346 shares in the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SAGE. BMO Capital Markets reduced their price objective on Sage Therapeutics from $43.00 to $40.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 9th. HC Wainwright dropped their target price on Sage Therapeutics from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, November 9th. Guggenheim downgraded Sage Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 3rd. Morgan Stanley dropped their target price on Sage Therapeutics from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on Sage Therapeutics from $92.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.29.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $42.57 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of -4.93 and a beta of 1.17. The stock has a 50 day simple moving average of $39.70 and a two-hundred day simple moving average of $38.80. Sage Therapeutics, Inc. has a fifty-two week low of $27.36 and a fifty-two week high of $49.56.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last issued its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($2.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.16) by ($0.15). The business had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.68 million. Sage Therapeutics had a negative return on equity of 32.76% and a negative net margin of 7,895.27%. On average, research analysts predict that Sage Therapeutics, Inc. will post -8.9 earnings per share for the current year.

About Sage Therapeutics

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.