Sage Therapeutics Inc. (NASDAQ:SAGE) saw strong trading volume on Thursday . 1,584,366 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 1,434,334 shares.The stock last traded at $40.68 and had previously closed at $42.43.

Several research analysts recently commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $110.00 target price on shares of Sage Therapeutics in a research note on Sunday, May 8th. William Blair reissued a “buy” rating on shares of Sage Therapeutics in a research report on Sunday, March 27th. Leerink Swann reissued a “buy” rating and set a $66.00 price objective on shares of Sage Therapeutics in a research report on Tuesday. Cowen and Company reissued a “buy” rating on shares of Sage Therapeutics in a research report on Tuesday. Finally, BMO Capital Markets began coverage on shares of Sage Therapeutics in a research report on Tuesday, June 28th. They set an “outperform” rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.64.

The firm has a 50 day moving average price of $32.11 and a 200-day moving average price of $35.09. The firm’s market cap is $1.34 billion.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.01. On average, analysts anticipate that Sage Therapeutics Inc. will post ($4.29) earnings per share for the current fiscal year.

In related news, insider Albert Robichaud sold 22,000 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $40.00, for a total value of $880,000.00. Following the completion of the sale, the insider now directly owns 140,222 shares in the company, valued at $5,608,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kimi Iguchi sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $49.55, for a total value of $247,750.00. Following the completion of the sale, the chief financial officer now owns 83,739 shares of the company’s stock, valued at $4,149,267.45. The disclosure for this sale can be found here.

A number of hedge funds recently modified their holdings of SAGE. Jennison Associates LLC bought a new stake in shares of Sage Therapeutics during the fourth quarter worth about $14,875,000. Marshall Wace LLP bought a new stake in shares of Sage Therapeutics during the fourth quarter worth about $1,870,000. BB Biotech AG bought a new stake in shares of Sage Therapeutics during the fourth quarter worth about $41,315,000. Wells Fargo & Company MN increased 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 worth $1,446,000 after buying an additional 9,548 shares in the last quarter. Finally, GAM Holding AG increased its stake 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 worth $4,629,000 after buying an additional 33,800 shares in 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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