Sage Therapeutics Inc. (NASDAQ:SAGE) shares traded up 3.4% on Wednesday . The company traded as high as $32.70 and last traded at $32.34, with a volume of 541,568 shares trading hands. The stock had previously closed at $31.28.

A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Sage Therapeutics in a report on Tuesday, June 28th. They issued an “outperform” rating and a $48.00 price objective for the company. HC Wainwright assumed coverage on shares of Sage Therapeutics in a report on Thursday, June 23rd. They issued a “buy” rating and a $56.00 price objective for the company. Leerink Swann restated an “outperform” rating and issued a $66.00 price objective on shares of Sage Therapeutics in a report on Tuesday, June 21st. Canaccord Genuity restated a “buy” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. Finally, Cowen and Company restated a “buy” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.21.

The company’s market capitalization is $1.04 billion. The firm has a 50 day moving average of $30.85 and a 200 day moving average of $35.67.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.98) by $0.01. Analysts expect that Sage Therapeutics Inc. will post ($4.26) earnings per share for the current fiscal year.

In other news, insider Stephen Kanes sold 21,000 shares of the stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $38.00, for a total transaction of $798,000.00. Following the transaction, the insider now directly owns 25,948 shares in the company, valued at approximately $986,024. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin P. Starr sold 850,000 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $31.25, for a total transaction of $26,562,500.00. Following the transaction, the director now owns 65,227 shares in the company, valued at $2,038,343.75. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of Sage Therapeutics by 9.4% in the fourth quarter. Nationwide Fund Advisors now owns 21,143 shares of the biopharmaceutical company’s stock valued at $1,233,000 after buying an additional 1,816 shares during the last quarter. Wells Fargo & Company MN raised its position in Sage Therapeutics by 62.6% in the fourth quarter. Wells Fargo & Company MN now owns 24,804 shares of the biopharmaceutical company’s stock valued at $1,446,000 after buying an additional 9,548 shares during the last quarter. ProShare Advisors LLC raised its position in Sage Therapeutics by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 25,219 shares of the biopharmaceutical company’s stock valued at $1,470,000 after buying an additional 1,919 shares during the last quarter. California State Teachers Retirement System raised its position in Sage Therapeutics by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 25,578 shares of the biopharmaceutical company’s stock valued at $1,491,000 after buying an additional 400 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Sage Therapeutics during the fourth quarter valued at approximately $1,870,000.

SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat life-threatening, rare central nervous system (CNS) disorders. The Company’s lead product candidate in its status epilepticus (SE) program is SAGE-547. SAGE-689 and SAGE-217 are two additional product candidates in its pipeline.

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