Federated Hermes Inc. Boosts Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Federated Hermes Inc. grew its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,105,779 shares of the biopharmaceutical company's stock after acquiring an additional 430,432 shares during the quarter. Federated Hermes Inc. owned about 1.81% of Sage Therapeutics worth $6,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management raised its position in shares of Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 3,581 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Sage Therapeutics in the 4th quarter worth about $49,000. Ieq Capital LLC bought a new position in shares of Sage Therapeutics during the 4th quarter valued at about $57,000. US Bancorp DE raised its holdings in shares of Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 2,268 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Sage Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock worth $75,000 after buying an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company's stock.

Wall Street Analysts Forecast Growth

SAGE has been the topic of several research reports. Bank of America initiated coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price target on the stock. Piper Sandler cut their price target on shares of Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. Canaccord Genuity Group decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. HC Wainwright restated a "neutral" rating and set a $12.00 price target (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock traded up $0.09 during trading on Thursday, hitting $7.46. 191,955 shares of the company's stock traded hands, compared to its average volume of 1,242,480. The business has a 50-day simple moving average of $7.46 and a 200-day simple moving average of $6.72. The stock has a market capitalization of $458.65 million, a P/E ratio of -1.14 and a beta of 0.48. Sage Therapeutics, Inc. has a 1 year low of $4.62 and a 1 year high of $14.97.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. On average, equities analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Sage Therapeutics 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.