Sage Therapeutics Inc. (NASDAQ:SAGE)’s share price was 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 trading hands. The stock had previously closed at $36.86.

Several equities analysts have recently commented on SAGE shares. Leerink Swann reaffirmed a “buy” rating and issued a $66.00 price target on shares of Sage Therapeutics in a research note on Tuesday, July 12th. BMO Capital Markets started coverage on Sage Therapeutics in a report on Tuesday, June 28th. They issued an “outperform” rating and a $48.00 price objective on the stock. HC Wainwright started coverage on Sage Therapeutics in a report on Thursday, June 23rd. They issued a “buy” rating and a $56.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating on shares of Sage Therapeutics in a report on Wednesday, June 8th. Finally, William Blair reiterated an “outperform” rating and issued a $75.00 price objective on shares of Sage Therapeutics in a report on Friday, July 15th. 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 company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.00.

The firm’s market cap is $1.18 billion. The company’s 50-day moving average price is $38.61 and its 200-day moving average price is $34.62.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by $0.06. Analysts forecast that Sage Therapeutics Inc. will post ($4.42) earnings per share for the current year.

In related news, Director Kevin P. Starr sold 850,000 shares of Sage Therapeutics stock in a transaction 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 transaction, the director now owns 65,227 shares in the company, valued at $2,038,343.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Albert Robichaud sold 22,000 shares of Sage Therapeutics stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $40.00, for a total value of $880,000.00. Following the completion of the transaction, the insider now owns 140,222 shares in the company, valued at approximately $5,608,880. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted 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 worth $1,233,000 after buying an additional 1,816 shares during the last quarter. California State Teachers Retirement System boosted its position 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 last quarter. Marshall Wace LLP purchased a new position in shares of Sage Therapeutics during the fourth quarter worth $1,870,000. Jennison Associates LLC purchased a new position in shares of Sage Therapeutics during the fourth quarter worth $14,875,000. Finally, RS Investment Management Co. LLC boosted its position 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 last quarter.

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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