Federated Hermes Inc. Has $9.48 Million Stake 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. lifted its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,192,489 shares of the biopharmaceutical company's stock after purchasing an additional 86,710 shares during the quarter. Federated Hermes Inc. owned about 1.90% of Sage Therapeutics worth $9,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in Sage Therapeutics during the 4th quarter worth about $49,000. GAMMA Investing LLC lifted its holdings in Sage Therapeutics by 16,118.0% during the 1st quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company's stock worth $64,000 after buying an additional 8,059 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Sage Therapeutics during the 1st quarter worth about $87,000. ProShare Advisors LLC lifted its holdings in shares of Sage Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 4,350 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $112,000. Institutional investors and hedge funds own 99.22% of the company's stock.

Wall Street Analysts Forecast Growth

SAGE has been the subject of several research reports. HC Wainwright reissued a "neutral" rating and issued a $12.00 target price on shares of Sage Therapeutics in a report on Tuesday, June 17th. Piper Sandler downgraded Sage Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $9.00 to $8.50 in a report on Tuesday, June 17th. Scotiabank downgraded Sage Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $12.00 to $9.20 in a report on Tuesday, July 8th. Canaccord Genuity Group boosted their price target on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a research report on Tuesday, June 17th. Finally, Truist Financial set a $9.00 price target on Sage Therapeutics and gave the company a "hold" rating in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.02.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE remained flat at $8.68 on Wednesday. The company's 50-day moving average is $8.42 and its 200 day moving average is $7.69. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $11.44. The firm has a market cap of $543.54 million, a PE ratio of -1.78 and a beta of 0.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results 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. The business had revenue of $31.66 million for the quarter, compared to analyst estimates of $16.69 million. Sage Therapeutics had a negative net margin of 427.78% and a negative return on equity of 67.10%. The firm's revenue was up 266.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.70) EPS. Equities research analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current 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.