BlackRock Inc. Has $240.48 Million Position in SAGE Therapeutics Inc (SAGE)

BlackRock Inc. lessened its stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,510,491 shares of the biopharmaceutical company’s stock after selling 305,919 shares during the period. BlackRock Inc. owned approximately 5.35% of SAGE Therapeutics worth $240,480,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in shares of SAGE Therapeutics by 66.3% in the 3rd quarter. Franklin Resources Inc. now owns 950,773 shares of the biopharmaceutical company’s stock worth $134,277,000 after purchasing an additional 379,121 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of SAGE Therapeutics by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 4,085,812 shares of the biopharmaceutical company’s stock worth $577,121,000 after purchasing an additional 262,990 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of SAGE Therapeutics by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,085,812 shares of the biopharmaceutical company’s stock worth $577,121,000 after purchasing an additional 262,990 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of SAGE Therapeutics by 39.1% in the 3rd quarter. Wells Fargo & Company MN now owns 388,706 shares of the biopharmaceutical company’s stock worth $54,905,000 after purchasing an additional 109,250 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of SAGE Therapeutics by 61.5% in the 4th quarter. Strs Ohio now owns 230,000 shares of the biopharmaceutical company’s stock worth $22,031,000 after purchasing an additional 87,583 shares in the last quarter.

Shares of SAGE opened at $158.19 on Friday. SAGE Therapeutics Inc has a one year low of $79.88 and a one year high of $188.82. The firm has a market capitalization of $7.49 billion, a P/E ratio of -19.58 and a beta of 2.92.

SAGE Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, February 19th. The biopharmaceutical company reported ($3.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.89) by ($0.49). The company had revenue of $0.27 million during the quarter. During the same period last year, the company earned ($1.75) earnings per share. On average, analysts forecast that SAGE Therapeutics Inc will post -12.51 EPS for the current fiscal year.

In related news, Director James M. Frates sold 7,500 shares of SAGE Therapeutics stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $134.81, for a total value of $1,011,075.00. Following the completion of the sale, the director now owns 11,735 shares of the company’s stock, valued at $1,581,995.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven M. Paul sold 1,543 shares of SAGE Therapeutics stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $161.62, for a total value of $249,379.66. Following the completion of the sale, the director now directly owns 272,777 shares of the company’s stock, valued at approximately $44,086,218.74. The disclosure for this sale can be found here. Insiders sold 111,615 shares of company stock valued at $17,419,066 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

A number of analysts have commented on SAGE shares. BidaskClub lowered SAGE Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Oppenheimer set a $170.00 target price on SAGE Therapeutics and gave the stock a “buy” rating in a report on Tuesday, November 20th. Guggenheim started coverage on SAGE Therapeutics in a report on Friday, February 22nd. They issued a “buy” rating and a $205.00 target price for the company. Wolfe Research started coverage on SAGE Therapeutics in a report on Friday, December 14th. They issued an “outperform” rating for the company. Finally, ValuEngine lowered SAGE Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. SAGE Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $201.45.

ILLEGAL ACTIVITY NOTICE: “BlackRock Inc. Has $240.48 Million Position in SAGE Therapeutics Inc (SAGE)” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2019/03/17/blackrock-inc-has-240-48-million-position-in-sage-therapeutics-inc-sage.html.

SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

Featured Article: How are institutional investors different from individual investors?

Institutional Ownership by Quarter for SAGE Therapeutics (NASDAQ:SAGE)

Receive News & Ratings for SAGE Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SAGE Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply