Sage Therapeutics Inc. (NASDAQ:SAGE)’s share price dropped 1.3% during mid-day trading on Friday . The stock traded as low as $36.28 and last traded at $36.47, with a volume of 126,138 shares changing hands. The stock had previously closed at $36.96.

SAGE has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Sage Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Chardan Capital reaffirmed a “sell” rating on shares of Sage Therapeutics in a research note on Tuesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. Leerink Swann reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Sage Therapeutics in a research note on Tuesday, June 21st. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Sage Therapeutics in a research note on Friday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $67.00.

The stock’s market capitalization is $1.17 billion. The stock has a 50 day moving average price of $40.19 and a 200 day moving average price of $35.06.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by $0.06. On average, analysts predict that Sage Therapeutics Inc. will post ($4.45) earnings per share for the current fiscal year.

In other Sage Therapeutics 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 transaction 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 approximately $4,149,267.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Albert Robichaud sold 22,000 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $40.00, for a total transaction of $880,000.00. Following the sale, the insider now directly owns 140,222 shares of the company’s stock, valued at approximately $5,608,880. 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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