SAGE Therapeutics (NASDAQ:SAGE) Trading 5.4% Higher

SAGE Therapeutics Inc (NASDAQ:SAGE) shares traded up 5.4% on Thursday . The stock traded as high as $180.60 and last traded at $180.44. 351,586 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 541,302 shares. The stock had previously closed at $171.25.

Several equities research analysts have weighed in on the stock. Wedbush assumed coverage on shares of SAGE Therapeutics in a report on Wednesday, May 22nd. They issued an “outperform” rating and a $207.00 target price on the stock. Canaccord Genuity set a $220.00 target price on shares of SAGE Therapeutics and gave the stock a “buy” rating in a report on Monday, April 8th. BidaskClub upgraded shares of SAGE Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Oppenheimer set a $170.00 target price on shares of SAGE Therapeutics and gave the stock a “buy” rating in a report on Sunday, May 5th. Finally, Raymond James reiterated a “market perform” rating on shares of SAGE Therapeutics in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $202.15.

The company has a quick ratio of 20.06, a current ratio of 20.06 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $173.78. The company has a market cap of $9.37 billion, a price-to-earnings ratio of -22.66 and a beta of 2.67.

SAGE Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($3.37) EPS for the quarter, missing analysts’ consensus estimates of ($3.17) by ($0.20). The company had revenue of $0.47 million for the quarter. During the same quarter last year, the business earned ($1.68) EPS. As a group, equities research analysts predict that SAGE Therapeutics Inc will post -13.19 earnings per share for the current fiscal year.

In related news, Director James M. Frates sold 8,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $162.22, for a total transaction of $1,297,760.00. Following the sale, the director now directly owns 12,235 shares in the company, valued at $1,984,761.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Jonas sold 84,661 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $174.83, for a total transaction of $14,801,282.63. Following the sale, the chief executive officer now owns 97,851 shares in the company, valued at $17,107,290.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,925 shares of company stock worth $39,438,777. 4.60% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. grew its position in SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 68 shares in the last quarter. Creative Planning grew its position in SAGE Therapeutics by 3.1% in the first quarter. Creative Planning now owns 2,269 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 69 shares in the last quarter. State of Alaska Department of Revenue grew its position in SAGE Therapeutics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 5,680 shares of the biopharmaceutical company’s stock valued at $903,000 after purchasing an additional 75 shares in the last quarter. Mckinley Capital Management LLC Delaware grew its position in SAGE Therapeutics by 53.3% in the first quarter. Mckinley Capital Management LLC Delaware now owns 282 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 98 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in SAGE Therapeutics by 5.0% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,670 shares of the biopharmaceutical company’s stock valued at $583,000 after purchasing an additional 174 shares in the last quarter.

SAGE Therapeutics Company Profile (NASDAQ:SAGE)

Sage Therapeutics, Inc, a clinical-stage 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 that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

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