Sage Therapeutics, Inc. (NASDAQ:SAGE) insider Albert Robichaud sold 60,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $159.43, for a total value of $9,565,800.00. Following the completion of the sale, the insider now owns 152,759 shares of the company’s stock, valued at approximately $24,354,367.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Sage Therapeutics, Inc. (NASDAQ SAGE) traded down $6.62 during trading hours on Thursday, reaching $158.03. The company’s stock had a trading volume of 873,174 shares, compared to its average volume of 605,605. Sage Therapeutics, Inc. has a 52 week low of $44.55 and a 52 week high of $173.36.
Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.98) by $0.01. The firm’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts expect that Sage Therapeutics, Inc. will post -7.4 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its holdings in shares of Sage Therapeutics by 58.7% in the 3rd quarter. California Public Employees Retirement System now owns 12,699 shares of the biopharmaceutical company’s stock worth $791,000 after purchasing an additional 4,699 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Sage Therapeutics by 13.9% in the 3rd quarter. Bamco Inc. NY now owns 93,458 shares of the biopharmaceutical company’s stock worth $5,822,000 after purchasing an additional 11,434 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $817,000. Alyeska Investment Group L.P. lifted its holdings in shares of Sage Therapeutics by 31.2% in the 3rd quarter. Alyeska Investment Group L.P. now owns 110,797 shares of the biopharmaceutical company’s stock worth $6,903,000 after purchasing an additional 26,348 shares during the last quarter. Finally, Cowen Inc. bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $1,246,000. 95.40% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Canaccord Genuity reduced their price target on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, September 12th. Needham & Company LLC reduced their price target on Sage Therapeutics from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. BMO Capital Markets reissued an “outperform” rating and issued a $112.00 price target (up previously from $85.67) on shares of Sage Therapeutics in a report on Friday, November 17th. Cowen reduced their price target on Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 12th. Finally, Raymond James Financial increased their price target on Sage Therapeutics to $109.00 and gave the company a “buy” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $171.21.
About Sage Therapeutics
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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