Arizona State Retirement System Has $576,000 Stake in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Posted by on May 19th, 2023

Arizona State Retirement System boosted its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,090 shares of the biopharmaceutical company’s stock after buying an additional 644 shares during the quarter. Arizona State Retirement System’s holdings in Sage Therapeutics were worth $576,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Sage Therapeutics by 13.7% during the third quarter. BlackRock Inc. now owns 4,822,063 shares of the biopharmaceutical company’s stock worth $188,833,000 after buying an additional 580,250 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Sage Therapeutics by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,787,865 shares of the biopharmaceutical company’s stock valued at $187,492,000 after acquiring an additional 45,026 shares during the period. State Street Corp lifted its stake in shares of Sage Therapeutics by 0.7% in the third quarter. State Street Corp now owns 2,954,683 shares of the biopharmaceutical company’s stock valued at $115,705,000 after buying an additional 20,619 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Sage Therapeutics by 3.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,140,411 shares of the biopharmaceutical company’s stock valued at $83,819,000 after buying an additional 62,877 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Sage Therapeutics by 252.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,106,276 shares of the biopharmaceutical company’s stock valued at $35,733,000 after buying an additional 792,819 shares during the period. 85.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sage Therapeutics

In related news, Director Elizabeth Barrett purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $50.50 per share, with a total value of $50,500.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $50,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SAGE has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of Sage Therapeutics from $60.00 to $63.00 in a research note on Wednesday, May 3rd. Citigroup increased their target price on shares of Sage Therapeutics from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. HC Wainwright reissued a “neutral” rating and issued a $50.00 price target on shares of Sage Therapeutics in a research report on Thursday, March 9th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Sage Therapeutics in a research report on Friday, February 17th. Finally, Mizuho increased their price target on shares of Sage Therapeutics from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.46.

Sage Therapeutics Stock Up 0.2 %

NASDAQ SAGE opened at $52.43 on Friday. The company has a 50 day moving average of $45.74 and a 200-day moving average of $42.44. Sage Therapeutics, Inc. has a 1-year low of $30.53 and a 1-year high of $54.86.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported ($2.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.50) by $0.04. The business had revenue of $3.30 million during the quarter, compared to analyst estimates of $2.28 million. Sage Therapeutics had a negative net margin of 5,932.09% and a negative return on equity of 42.32%. Sage Therapeutics’s revenue for the quarter was up 120.0% compared to the same quarter last year. During the same quarter last year, the business posted ($2.07) earnings per share. Sell-side analysts expect that Sage Therapeutics, Inc. will post -8.03 earnings per share for the current year.

Sage Therapeutics Profile

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SAGE Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of novel medicines. It targets diseases and disorders of the brain with three key focus areas: depression, neurology, and neuropsychiatry. The company was founded by Steven Marc Paul and Douglas Covey on April 16, 2010, and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for Sage Therapeutics (NASDAQ:SAGE)

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