Sage Therapeutics Inc. (NASDAQ:SAGE) was down 2.3% during trading on Wednesday . The stock traded as low as $44.65 and last traded at $44.81, with a volume of 399,398 shares traded. The stock had previously closed at $45.87.

Several equities research analysts have commented on SAGE shares. Canaccord Genuity restated a “buy” rating on shares of Sage Therapeutics in a research note on Friday, May 27th. Cowen and Company restated a “buy” rating on shares of Sage Therapeutics in a research note on Wednesday, June 8th. HC Wainwright started coverage on Sage Therapeutics in a research note on Thursday, June 23rd. They set a “buy” rating and a $56.00 price target for the company. Zacks Investment Research upgraded Sage Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Thursday, July 7th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Sage Therapeutics in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Sage Therapeutics has an average rating of “Buy” and an average target price of $67.67.

The firm’s market capitalization is $1.48 billion. The firm’s 50 day moving average price is $39.67 and its 200 day moving average price is $36.00.

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Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by $0.06. Equities research analysts forecast that Sage Therapeutics Inc. will post ($4.38) earnings per share for the current year.

In other news, CFO Kimi Iguchi sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $49.55, for a total value of $247,750.00. Following the transaction, the chief financial officer now directly owns 83,739 shares of the company’s stock, valued at approximately $4,149,267.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Albert Robichaud sold 22,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 140,222 shares in the company, valued at $5,608,880. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently 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. Legal & General Group Plc increased its position in shares of Sage Therapeutics by 17.2% in the first quarter. Legal & General Group Plc now owns 4,146 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 607 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Sage Therapeutics during the second quarter valued at approximately $208,000. Cowen Group Inc. acquired a new position in shares of Sage Therapeutics during the second quarter valued at approximately $211,000. Finally, Hamilton Lane Advisors LLC acquired a new position in shares of Sage Therapeutics during the second quarter valued at approximately $329,000. 82.63% of the stock is currently owned by institutional investors and hedge funds.

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. 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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