BlackRock Advisors LLC raised its stake in Sage Therapeutics Inc. (NASDAQ:SAGE) by 95.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 234,866 shares of the biopharmaceutical company’s stock after buying an additional 114,551 shares during the period. BlackRock Advisors LLC owned approximately 0.73% of Sage Therapeutics worth $7,076,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of Sage Therapeutics by 38.2% in the second quarter. Teacher Retirement System of Texas now owns 3,522 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 973 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Sage Therapeutics during the second quarter valued at approximately $208,000. Cowen Group Inc. purchased a new position in Sage Therapeutics during the second quarter valued at approximately $211,000. State Board of Administration of Florida Retirement System increased its position in Sage Therapeutics by 51.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,316 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 3,494 shares in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in Sage Therapeutics during the second quarter valued at approximately $329,000. 82.63% of the stock is owned by institutional investors and hedge funds.
Shares of Sage Therapeutics Inc. (NASDAQ:SAGE) opened at 42.08 on Friday. Sage Therapeutics Inc. has a 52 week low of $26.28 and a 52 week high of $62.64. The firm’s market cap is $1.35 billion. The firm’s 50-day moving average price is $42.66 and its 200 day moving average price is $37.31.
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 analysts’ consensus estimates of ($1.02) by $0.06. Equities analysts anticipate that Sage Therapeutics Inc. will post ($4.37) EPS for the current year.
Several research firms recently commented on SAGE. Leerink Swann reissued an “outperform” rating and issued a $68.00 price objective on shares of Sage Therapeutics in a research note on Tuesday, October 4th. Cowen and Company reissued a “buy” rating on shares of Sage Therapeutics in a research note on Monday, September 19th. Raymond James Financial Inc. began coverage on Sage Therapeutics in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $75.00 price objective for the company. Canaccord Genuity set a $110.00 price objective on Sage Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 6th. Finally, Zacks Investment Research raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Sage Therapeutics currently has a consensus rating of “Buy” and an average target price of $67.83.
In related news, CFO Kimi Iguchi sold 2,500 shares of Sage Therapeutics stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $40.93, for a total transaction of $102,325.00. Following the sale, the chief financial officer now directly owns 81,239 shares of the company’s stock, valued at $3,325,112.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.
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.
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