Great Lakes Advisors LLC Acquires New Shares in Sage Therapeutics, Inc. (NASDAQ:SAGE)


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Great Lakes Advisors LLC bought a new stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 207,692 shares of the biopharmaceutical company’s stock, valued at approximately $17,967,000. Great Lakes Advisors LLC owned 0.40% of Sage Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAGE. Amundi Pioneer Asset Management Inc. increased its stake in Sage Therapeutics by 40.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 136,459 shares of the biopharmaceutical company’s stock worth $21,704,000 after purchasing an additional 39,447 shares in the last quarter. Pacer Advisors Inc. bought a new position in Sage Therapeutics during the 3rd quarter worth about $177,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at about $1,211,000. Banque Cantonale Vaudoise lifted its holdings in shares of Sage Therapeutics by 6.2% in the third quarter. Banque Cantonale Vaudoise now owns 7,754 shares of the biopharmaceutical company’s stock valued at $474,000 after purchasing an additional 450 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Sage Therapeutics by 31.2% during the third quarter. Comerica Bank now owns 21,340 shares of the biopharmaceutical company’s stock worth $1,526,000 after buying an additional 5,072 shares during the period.

Several equities research analysts have commented on SAGE shares. Guggenheim upgraded Sage Therapeutics from a “neutral” rating to a “buy” rating in a research note on Monday, January 4th. BMO Capital Markets lowered shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research report on Friday, January 22nd. Truist raised their target price on shares of Sage Therapeutics from $60.00 to $70.00 in a research report on Tuesday, December 1st. Wedbush boosted their price target on shares of Sage Therapeutics from $83.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 19th. Finally, Bank of America raised their price objective on Sage Therapeutics from $72.00 to $95.00 and gave the company a “buy” rating in a report on Monday, November 16th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $80.05.

Shares of SAGE stock opened at $81.09 on Tuesday. Sage Therapeutics, Inc. has a 52 week low of $25.01 and a 52 week high of $98.39. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -7.83 and a beta of 2.23. The company has a 50-day simple moving average of $85.97 and a 200 day simple moving average of $71.71.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone for the treatment of postpartum depression (PPD). The company's product pipeline also includes SAGE-217, a novel neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and generalized anxiety disorders; and SAGE-324, a novel compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epileptiform disorders and Parkinson's diseases.

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

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