Principal Financial Group Inc. Has $334,000 Stake in Sage Therapeutics, Inc. (SAGE)
Principal Financial Group Inc. decreased its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,363 shares of the biopharmaceutical company’s stock after selling 963 shares during the quarter. Principal Financial Group Inc.’s holdings in Sage Therapeutics were worth $334,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SAGE. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sage Therapeutics by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 138 shares during the period. Hershey Trust Co. acquired a new position in Sage Therapeutics in the 3rd quarter worth about $118,000. Turner Investments LLC acquired a new position in Sage Therapeutics in the 2nd quarter worth about $159,000. Canada Pension Plan Investment Board acquired a new position in Sage Therapeutics in the 2nd quarter worth about $175,000. Finally, Teacher Retirement System of Texas acquired a new position in Sage Therapeutics in the 2nd quarter worth about $202,000. 95.40% of the stock is owned by institutional investors.
SAGE has been the subject of a number of analyst reports. BidaskClub cut Sage Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. J P Morgan Chase & Co reissued a “buy” rating on shares of Sage Therapeutics in a report on Thursday, August 31st. Cowen reduced their target price on Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 12th. Canaccord Genuity reduced their target price on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, September 12th. Finally, SunTrust Banks reissued a “buy” rating and set a $82.00 target price (down previously from $95.00) on shares of Sage Therapeutics in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Sage Therapeutics currently has a consensus rating of “Buy” and an average target price of $171.21.
In related news, insider Albert Robichaud sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $159.43, for a total value of $9,565,800.00. Following the completion of the transaction, the insider now directly owns 152,759 shares in the company, valued at $24,354,367.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.
Shares of Sage Therapeutics, Inc. (NASDAQ SAGE) opened at $162.32 on Friday. Sage Therapeutics, Inc. has a 52-week low of $44.55 and a 52-week high of $173.36.
Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($1.98) by $0.01. The firm’s quarterly revenue was up .0% compared to the same quarter last year. sell-side analysts forecast that Sage Therapeutics, Inc. will post -7.4 EPS for the current fiscal year.
Sage Therapeutics Company Profile
SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.
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