BidaskClub upgraded shares of SAGE Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
SAGE has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on shares of SAGE Therapeutics from $145.00 to $137.00 and set an outperform rating on the stock in a research note on Monday, November 27th. Morgan Stanley initiated coverage on shares of SAGE Therapeutics in a research note on Monday, February 26th. They issued an overweight rating and a $225.00 target price on the stock. Chardan Capital raised shares of SAGE Therapeutics from a neutral rating to a buy rating and raised their target price for the company from $60.00 to $140.00 in a research note on Friday, November 10th. BMO Capital Markets reissued an outperform rating and issued a $203.00 target price on shares of SAGE Therapeutics in a research note on Thursday, December 7th. Finally, SunTrust Banks raised their target price on shares of SAGE Therapeutics to $178.00 and gave the company a positive rating in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $176.47.
Shares of SAGE Therapeutics (SAGE) traded up $8.28 during mid-day trading on Wednesday, hitting $177.75. 480,272 shares of the stock were exchanged, compared to its average volume of 715,218. SAGE Therapeutics has a fifty-two week low of $59.57 and a fifty-two week high of $195.97.
In related news, Director Steven M. Paul sold 58,139 shares of SAGE Therapeutics stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $172.00, for a total transaction of $9,999,908.00. Following the sale, the director now owns 632,712 shares of the company’s stock, valued at approximately $108,826,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Albert Robichaud sold 60,000 shares of SAGE Therapeutics stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $159.43, for a total transaction of $9,565,800.00. Following the sale, the insider now directly owns 152,759 shares in the company, valued at approximately $24,354,367.37. The disclosure for this sale can be found here. Insiders have sold a total of 372,386 shares of company stock worth $60,465,018 in the last ninety days. 6.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its stake in SAGE Therapeutics by 412.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 1,565 shares during the period. Bessemer Group Inc. bought a new stake in shares of SAGE Therapeutics in the 3rd quarter worth about $141,000. Fortaleza Asset Management Inc. bought a new stake in shares of SAGE Therapeutics in the 4th quarter worth about $167,000. First Mercantile Trust Co. bought a new stake in shares of SAGE Therapeutics in the 4th quarter worth about $169,000. Finally, Envestnet Asset Management Inc. increased its position in shares of SAGE Therapeutics by 70.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after purchasing an additional 1,204 shares during the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.
SAGE Therapeutics Company Profile
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. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.
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