Sage Therapeutics Inc. (NASDAQ:SAGE) shares shot up 2.4% during trading on Wednesday . The stock traded as high as $37.95 and last traded at $37.76, with a volume of 970,869 shares changing hands. The stock had previously closed at $36.86.

Several brokerages have commented on SAGE. William Blair reissued an “outperform” rating and issued a $75.00 price target on shares of Sage Therapeutics in a report on Friday, July 15th. Zacks Investment Research downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Cowen and Company reissued a “buy” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. Chardan Capital reissued a “sell” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.18.

The company has a 50-day moving average price of $38.13 and a 200 day moving average price of $34.58. The firm’s market cap is $1.18 billion.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.02) by $0.06. On average, equities analysts forecast that Sage Therapeutics Inc. will post ($4.34) earnings per share for the current year.

In other news, CFO Kimi Iguchi sold 5,000 shares of the stock in a transaction on Tuesday, July 12th. The shares were 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 directly owns 83,739 shares of the company’s stock, valued at $4,149,267.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin P. Starr sold 850,000 shares of the stock in a transaction on 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 completion of the sale, the director now directly 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 hedge funds have recently made changes to their positions in the company. RS Investment Management Co. LLC boosted 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. Jennison Associates LLC purchased a new stake in shares of Sage Therapeutics during the fourth quarter worth about $14,875,000. Marshall Wace LLP purchased a new stake in shares of Sage Therapeutics during the fourth quarter worth about $1,870,000. 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 worth $1,491,000 after buying an additional 400 shares during the period. Finally, 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 worth $1,233,000 after buying an additional 1,816 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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