Bank of America Corp DE Has $1.72 Million Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Bank of America Corp DE lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,673 shares of the biopharmaceutical company's stock after selling 355,277 shares during the quarter. Bank of America Corp DE owned 0.52% of Sage Therapeutics worth $1,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock valued at $405,000 after acquiring an additional 38,876 shares during the period. BNP Paribas Financial Markets increased its stake in Sage Therapeutics by 9.3% in the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock valued at $421,000 after acquiring an additional 6,574 shares during the period. Jane Street Group LLC increased its stake in Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock valued at $2,509,000 after acquiring an additional 234,528 shares during the period. Northern Trust Corp increased its stake in Sage Therapeutics by 6.0% in the fourth quarter. Northern Trust Corp now owns 524,420 shares of the biopharmaceutical company's stock valued at $2,848,000 after acquiring an additional 29,560 shares during the period. Finally, Amundi bought a new stake in Sage Therapeutics in the fourth quarter valued at about $166,000. Institutional investors own 99.22% of the company's stock.

Analysts Set New Price Targets

SAGE has been the topic of a number of analyst reports. Scotiabank lowered their target price on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Canaccord Genuity Group reduced their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Bank of America started coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price target on the stock. Finally, Wedbush restated a "neutral" rating and issued a $6.00 price target on shares of Sage Therapeutics in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.87.

Sage Therapeutics Price Performance

Shares of SAGE stock traded up $0.24 during trading hours on Thursday, reaching $6.78. 900,047 shares of the company were exchanged, compared to its average volume of 1,180,711. The stock's fifty day moving average is $7.04 and its two-hundred day moving average is $6.77. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $13.47. The company has a market cap of $424.57 million, a price-to-earnings ratio of -1.03 and a beta of 0.20.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The business had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the prior year, the company earned ($1.80) earnings per share. The company's quarterly revenue was up 78.0% on a year-over-year basis. On average, research analysts anticipate that Sage Therapeutics, Inc. will post -3.52 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.