Sage Therapeutics Inc. (SAGE) Shares Down 2.8%
Sage Therapeutics Inc. (NASDAQ:SAGE)’s share price was down 2.8% during mid-day trading on Thursday . The stock traded as low as $31.40 and last traded at $31.40, with a volume of 294,805 shares changing hands. The stock had previously closed at $32.32.
Several equities analysts have issued reports on SAGE shares. Goldman Sachs Group Inc. started coverage on Sage Therapeutics in a research note on Wednesday, March 30th. They issued a “neutral” rating and a $83.00 price target on the stock. Leerink Swann reiterated a “buy” rating and set a $66.00 price target on shares of Sage Therapeutics in a report on Friday, April 8th. Lake Street Capital began coverage on Sage Therapeutics in a report on Friday, March 11th. They set a “buy” rating and a $90.00 price target for the company. Zacks Investment Research downgraded Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $110.00 price target on shares of Sage Therapeutics in a report on Thursday, March 24th. One analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Sage Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $66.54.
The stock’s market capitalization is $1.03 billion. The company’s 50-day moving average price is $30.86 and its 200-day moving average price is $35.65.
Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.01. On average, equities analysts expect that Sage Therapeutics Inc. will post ($4.26) earnings per share for the current year.
In other Sage Therapeutics news, insider Stephen Kanes sold 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $38.00, for a total transaction of $798,000.00. Following the sale, the insider now directly owns 25,948 shares in the company, valued at $986,024. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin P. Starr sold 850,000 shares of the business’s 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 transaction, the director now owns 65,227 shares of the company’s stock, valued at approximately $2,038,343.75. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. 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. Wells Fargo & Company MN boosted its stake in shares of Sage Therapeutics by 62.6% in the fourth quarter. Wells Fargo & Company MN now owns 24,804 shares of the biopharmaceutical company’s stock worth $1,446,000 after buying an additional 9,548 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Sage Therapeutics by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 25,219 shares of the biopharmaceutical company’s stock worth $1,470,000 after buying an additional 1,919 shares during the last quarter. 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 last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Sage Therapeutics during the fourth quarter worth approximately $1,870,000.
SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat life-threatening, rare central nervous system (CNS) disorders. The Company’s lead product candidate in its status epilepticus (SE) program is SAGE-547. SAGE-689 and SAGE-217 are two additional product candidates in its pipeline.