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

Key Points

• Federated Hermes Inc. increased its stake in Sage Therapeutics by 7.8% in Q1, now owning approximately 1.90% of the company valued at about $9.48 million.
• Recent analyst ratings for Sage Therapeutics have been cautious, with Piper Sandler downgrading the stock from "strong-buy" to "hold," and several target price adjustments made.
• Sage Therapeutics reported a quarterly revenue of $31.66 million, significantly exceeding analysts' expectations, while also improving its EPS from last year's results.

Federated Hermes Inc. boosted its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,192,489 shares of the biopharmaceutical company's stock after buying an additional 86,710 shares during the period. Federated Hermes Inc. owned approximately 1.90% of Sage Therapeutics worth $9,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of Sage Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock worth $99,000 after buying an additional 4,350 shares in the last quarter. Invesco Ltd. raised its stake in Sage Therapeutics by 5.3% in the fourth quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after buying an additional 4,629 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Sage Therapeutics by 9.3% during the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company's stock worth $421,000 after purchasing an additional 6,574 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Sage Therapeutics by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company's stock worth $179,000 after purchasing an additional 7,087 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Sage Therapeutics by 21.1% in the fourth quarter. Voya Investment Management LLC now owns 41,955 shares of the biopharmaceutical company's stock valued at $228,000 after acquiring an additional 7,319 shares during the period. Hedge funds and other institutional investors own 99.22% of the company's stock.

Sage Therapeutics Stock Performance

Shares of SAGE stock remained flat at $8.68 during trading hours on Monday. The firm has a market cap of $543.54 million, a price-to-earnings ratio of -1.78 and a beta of 0.26. The firm has a 50-day moving average price of $8.38 and a two-hundred day moving average price of $7.68. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $11.44.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.17. Sage Therapeutics had a negative return on equity of 67.10% and a negative net margin of 427.78%. The firm had revenue of $31.66 million during the quarter, compared to the consensus estimate of $16.69 million. During the same period last year, the business posted ($1.70) EPS. Sage Therapeutics's quarterly revenue was up 266.0% on a year-over-year basis. On average, equities analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler lowered Sage Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $9.00 to $8.50 in a research note on Tuesday, June 17th. Robert W. Baird upped their price target on Sage Therapeutics from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, June 20th. Wall Street Zen raised Sage Therapeutics to a "hold" rating in a research report on Saturday. Scotiabank cut Sage Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $12.00 to $9.20 in a research report on Tuesday, July 8th. Finally, HC Wainwright reissued a "neutral" rating and issued a $12.00 target price on shares of Sage Therapeutics in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Sage Therapeutics currently has an average rating of "Hold" and an average price target of $8.02.

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.