Shares of Sage Therapeutics Inc. (NASDAQ:SAGE) traded up 37.4% during trading on Tuesday . The company traded as high as $49.89 and last traded at $46.22, with a volume of 10,771,559 shares traded. The stock had previously closed at $33.65.

A number of analysts have recently commented on the company. Leerink Swann reissued an “outperform” rating and issued a $66.00 price target on shares of Sage Therapeutics in a research report on Tuesday. Zacks Investment Research cut Sage Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 price target on the stock. HC Wainwright started coverage on Sage Therapeutics in a research report on Thursday, June 23rd. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Sage Therapeutics in a research report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.64.

The firm’s 50-day moving average is $31.46 and its 200-day moving average is $34.98. The stock’s market cap is $1.48 billion.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.01. Equities analysts predict that Sage Therapeutics Inc. will post ($4.26) earnings per share for the current fiscal year.

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

Other hedge funds have made changes to their positions in the company. Nationwide Fund Advisors boosted its stake 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 in the last quarter. Wells Fargo & Company MN boosted its stake 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 in the last quarter. ProShare Advisors LLC boosted its stake in shares of 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 in the last quarter. California State Teachers Retirement System boosted its stake in shares of 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 in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Sage Therapeutics during the fourth quarter valued at about $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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.