Sage Therapeutics Inc. (NASDAQ:SAGE) shares traded down 2.7% on Monday . The company traded as low as $42.49 and last traded at $42.83, with a volume of 246,193 shares traded. The stock had previously closed at $44.00.

A number of research analysts have weighed in on the company. BMO Capital Markets reiterated a “buy” rating on shares of Sage Therapeutics in a report on Tuesday, July 12th. Chardan Capital assumed coverage on Sage Therapeutics in a report on Tuesday, May 24th. They set a “sell” rating and a $18.00 target price on the stock. Leerink Swann reiterated a “buy” rating and set a $66.00 target price on shares of Sage Therapeutics in a report on Tuesday, July 12th. HC Wainwright assumed coverage on Sage Therapeutics in a report on Thursday, June 23rd. They set a “buy” rating and a $56.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating and set a $75.00 target price on shares of Sage Therapeutics in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.18.

The firm’s market cap is $1.36 billion. The stock’s 50-day moving average is $37.52 and its 200-day moving average is $34.63.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.98) by $0.01. Equities analysts anticipate that Sage Therapeutics Inc. will post ($4.30) earnings per share for the current fiscal year.

In other news, CFO Kimi Iguchi sold 5,000 shares of Sage Therapeutics stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $49.55, for a total transaction of $247,750.00. Following the completion of the sale, the chief financial officer now directly owns 83,739 shares in the company, valued at $4,149,267.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin P. Starr sold 850,000 shares of Sage Therapeutics 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 sale, the director now owns 65,227 shares of the company’s stock, valued at $2,038,343.75. The disclosure for this sale can be found here.

Several large investors have recently modified their holdings of SAGE. Jennison Associates LLC purchased a new stake in shares of Sage Therapeutics during the fourth quarter worth approximately $14,875,000. RS Investment Management Co. LLC increased its stake in shares of Sage Therapeutics by 14.7% in the fourth quarter. RS Investment Management Co. LLC now owns 504,405 shares of the biopharmaceutical company’s stock worth $29,407,000 after buying an additional 64,567 shares during the period. Marshall Wace LLP purchased a new stake in shares of Sage Therapeutics during the fourth quarter worth approximately $1,870,000. Nationwide Fund Advisors increased 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 worth $1,233,000 after buying an additional 1,816 shares during the period. Finally, California State Teachers Retirement System increased 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 worth $1,491,000 after buying an additional 400 shares during the period.

SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor.

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