Sage Therapeutics Inc. (NASDAQ:SAGE) traded up 3.4% during mid-day trading 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 equities research analysts recently issued reports on the company. Canaccord Genuity reissued a “buy” rating and issued a $110.00 target price on shares of Sage Therapeutics in a research report on Sunday, May 8th. William Blair reissued a “buy” rating on shares of Sage Therapeutics in a research report on Sunday, March 27th. BMO Capital Markets assumed coverage on Sage Therapeutics in a research report on Tuesday, June 28th. They issued an “outperform” rating and a $48.00 target price on the stock. Zacks Investment Research raised Sage Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday. Finally, Leerink Swann reissued an “outperform” rating and issued a $66.00 target price on shares of Sage Therapeutics in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $64.64.

The firm has a 50-day moving average price of $30.88 and a 200-day moving average price of $35.62. The firm’s market cap is $1.07 billion.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.01. On average, equities research analysts anticipate that Sage Therapeutics Inc. will post ($4.26) earnings per share for the current fiscal year.

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

Other hedge funds and institutional investors have recently made changes to their positions in the company. BB Biotech AG purchased a new position in shares of Sage Therapeutics during the fourth quarter valued at about $41,315,000. 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. Casdin Capital LLC purchased a new position in shares of Sage Therapeutics during the fourth quarter valued at about $8,338,000. Wells Fargo & Company MN raised its position in shares of 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. Finally, GAM Holding AG raised its position in shares of Sage Therapeutics by 74.1% in the fourth quarter. GAM Holding AG now owns 79,400 shares of the biopharmaceutical company’s stock valued at $4,629,000 after buying an additional 33,800 shares during the last quarter.

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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