Paloma Partners Management Co lowered its stake in SAGE Therapeutics Inc (NASDAQ:SAGE) by 48.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,210 shares of the biopharmaceutical company’s stock after selling 2,080 shares during the quarter. Paloma Partners Management Co’s holdings in SAGE Therapeutics were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in SAGE Therapeutics by 16.4% during the 4th quarter. BlackRock Inc. now owns 3,444,171 shares of the biopharmaceutical company’s stock valued at $567,290,000 after purchasing an additional 486,135 shares during the period. Carillon Tower Advisers Inc. bought a new stake in SAGE Therapeutics during the 4th quarter valued at approximately $74,300,000. Farallon Capital Management LLC raised its stake in SAGE Therapeutics by 64.3% during the 4th quarter. Farallon Capital Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $65,884,000 after purchasing an additional 156,500 shares during the period. New York State Common Retirement Fund raised its stake in SAGE Therapeutics by 258.0% during the 3rd quarter. New York State Common Retirement Fund now owns 149,564 shares of the biopharmaceutical company’s stock valued at $9,318,000 after purchasing an additional 107,782 shares during the period. Finally, Emerald Advisers Inc. PA raised its stake in SAGE Therapeutics by 123.0% during the 4th quarter. Emerald Advisers Inc. PA now owns 168,785 shares of the biopharmaceutical company’s stock valued at $27,801,000 after purchasing an additional 93,106 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SAGE. BidaskClub raised SAGE Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Stifel Nicolaus reissued a “buy” rating and set a $198.00 target price on shares of SAGE Therapeutics in a research note on Friday, December 8th. SunTrust Banks raised their price target on SAGE Therapeutics to $203.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Morgan Stanley began coverage on SAGE Therapeutics in a report on Monday, February 26th. They set an “overweight” rating and a $225.00 price target for the company. Finally, Royal Bank of Canada cut their price target on SAGE Therapeutics from $145.00 to $137.00 and set an “outperform” rating for the company in a report on Monday, November 27th. 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’s stock. SAGE Therapeutics currently has a consensus rating of “Buy” and an average price target of $183.93.
SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, beating the consensus estimate of ($1.98) by $0.23. During the same period in the previous year, the firm posted ($1.50) EPS. equities analysts expect that SAGE Therapeutics Inc will post -8.34 EPS for the current year.
In other news, insider Stephen Kanes sold 44,000 shares of SAGE Therapeutics stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total value of $7,795,920.00. Following the completion of the transaction, the insider now owns 46,348 shares in the company, valued at approximately $8,211,938.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven M. Paul sold 58,139 shares of SAGE Therapeutics stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $172.00, for a total value of $9,999,908.00. Following the completion of the transaction, the director now owns 632,712 shares of the company’s stock, valued at approximately $108,826,464. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.
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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. 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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