Sage Therapeutics Inc. (NASDAQ:SAGE) shares rose 3.8% during mid-day trading on Monday . The stock traded as high as $46.28 and last traded at $45.60, with a volume of 463,852 shares. The stock had previously closed at $43.91.

SAGE has been the subject of several recent analyst reports. Canaccord Genuity reiterated a “buy” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. Cowen and Company reiterated a “buy” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. Zacks Investment Research lowered Sage Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Chardan Capital reiterated a “sell” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. Finally, BMO Capital Markets initiated coverage on Sage Therapeutics in a research note on Tuesday, June 28th. They set an “outperform” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Sage Therapeutics has a consensus rating of “Buy” and an average price target of $67.67.

The stock’s 50-day moving average is $39.58 and its 200-day moving average is $35.92. The stock’s market cap is $1.47 billion.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data 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, equities analysts forecast that Sage Therapeutics Inc. will post ($4.38) EPS for the current year.

In other news, CFO Kimi Iguchi sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $49.55, for a total transaction of $247,750.00. Following the completion of the transaction, the chief financial officer now owns 83,739 shares of the company’s stock, valued at approximately $4,149,267.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Albert Robichaud sold 22,000 shares of the business’s stock in a transaction 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 transaction, 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. 5.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Cormorant Asset Management LLC boosted its position in Sage Therapeutics by 200.0% in the first quarter. Cormorant Asset Management LLC now owns 945,000 shares of the biopharmaceutical company’s stock worth $30,297,000 after buying an additional 630,000 shares during the period. Deerfield Management Co. boosted its position in Sage Therapeutics by 86.0% in the first quarter. Deerfield Management Co. now owns 1,113,654 shares of the biopharmaceutical company’s stock worth $35,704,000 after buying an additional 514,800 shares during the period. Pictet Asset Management Ltd. acquired a new position in Sage Therapeutics during the first quarter worth approximately $1,214,000. Sphera Funds Management LTD. boosted its position in Sage Therapeutics by 32.3% in the first quarter. Sphera Funds Management LTD. now owns 123,000 shares of the biopharmaceutical company’s stock worth $3,943,000 after buying an additional 30,000 shares during the period. Finally, Wexford Capital LP acquired a new position in Sage Therapeutics during the first quarter worth approximately $974,000. 82.63% of the stock is owned by institutional investors.

About Sage Therapeutics

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.

5 Day Chart for NASDAQ:SAGE

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