Sage Therapeutics Inc. (SAGE) Trading Down 1.3%
Shares of Sage Therapeutics Inc. (NASDAQ:SAGE) dropped 1.3% during trading on Friday . The company traded as low as $36.28 and last traded at $36.47, with a volume of 126,138 shares traded. The stock had previously closed at $36.96.
SAGE has been the subject of a number of recent analyst reports. Leerink Swann reiterated a “buy” rating on shares of Sage Therapeutics in a research note on Monday, May 16th. Canaccord Genuity reiterated a “buy” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. Cowen and Company reissued a “buy” rating on shares of Sage Therapeutics in a research report on Wednesday, June 8th. Zacks Investment Research lowered shares of Sage Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Chardan Capital reissued a “sell” rating on shares of Sage Therapeutics in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Sage Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $67.00.
The stock’s market capitalization is $1.17 billion. The firm’s 50-day moving average is $40.34 and its 200-day moving average is $35.05.
Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.02) by $0.06. On average, equities research analysts anticipate that Sage Therapeutics Inc. will post ($4.42) earnings per share for the current year.
In related news, insider Albert Robichaud sold 22,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 140,222 shares of the company’s stock, valued at $5,608,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimi Iguchi sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 83,739 shares of the company’s stock, valued at $4,149,267.45. The disclosure for this sale can be found here.
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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