Oppenheimer & Co. Inc. cut its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE – Free Report) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,305 shares of the biopharmaceutical company’s stock after selling 3,508 shares during the period. Oppenheimer & Co. Inc.’s holdings in Sage Therapeutics were worth $233,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Sage Therapeutics during the third quarter valued at approximately $1,817,000. TD Asset Management Inc raised its position in shares of Sage Therapeutics by 568.1% during the 3rd quarter. TD Asset Management Inc now owns 80,662 shares of the biopharmaceutical company’s stock valued at $1,660,000 after acquiring an additional 68,588 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sage Therapeutics by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,716,268 shares of the biopharmaceutical company’s stock worth $80,699,000 after purchasing an additional 61,568 shares during the period. Swiss National Bank raised its holdings in shares of Sage Therapeutics by 1.3% during the second quarter. Swiss National Bank now owns 117,000 shares of the biopharmaceutical company’s stock worth $5,501,000 after purchasing an additional 1,500 shares during the period. Finally, Barclays PLC raised its holdings in shares of Sage Therapeutics by 43.4% during the third quarter. Barclays PLC now owns 206,413 shares of the biopharmaceutical company’s stock worth $4,248,000 after purchasing an additional 62,454 shares during the period. 89.68% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Wedbush increased their price objective on shares of Sage Therapeutics from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. Stifel Nicolaus dropped their price target on Sage Therapeutics from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft began coverage on Sage Therapeutics in a research report on Tuesday, December 12th. They issued a “hold” rating and a $21.00 target price on the stock. Royal Bank of Canada dropped their target price on Sage Therapeutics from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. Finally, StockNews.com raised shares of Sage Therapeutics to a “sell” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.50.
Sage Therapeutics Trading Up 0.6 %
Shares of SAGE opened at $23.83 on Tuesday. The business’s 50-day moving average price is $23.54 and its 200 day moving average price is $21.88. The stock has a market capitalization of $1.43 billion, a P/E ratio of -2.17 and a beta of 0.93. Sage Therapeutics, Inc. has a 1-year low of $16.51 and a 1-year high of $59.99.
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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, 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.
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