Schwab Charles Investment Management Inc. Buys 12,847 Shares of SAGE Therapeutics Inc (SAGE)

Schwab Charles Investment Management Inc. lifted its stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,026 shares of the biopharmaceutical company’s stock after acquiring an additional 12,847 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.40% of SAGE Therapeutics worth $9,409,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SAGE Therapeutics by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 138 shares during the period. Hershey Trust Co. bought a new position in SAGE Therapeutics in the 3rd quarter worth approximately $118,000. Bessemer Group Inc. bought a new position in SAGE Therapeutics in the 3rd quarter worth approximately $141,000. Tudor Investment Corp ET AL bought a new position in SAGE Therapeutics in the 2nd quarter worth approximately $235,000. Finally, Ameritas Investment Partners Inc. boosted its stake in SAGE Therapeutics by 19.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,034 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 497 shares during the period. Institutional investors own 95.33% of the company’s stock.

In related news, insider Albert Robichaud sold 60,000 shares of the 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 owns 152,759 shares in the company, valued at approximately $24,354,367.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey M. Jonas sold 210,247 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $157.45, for a total value of $33,103,390.15. Following the sale, the chief executive officer now owns 211,473 shares in the company, valued at approximately $33,296,423.85. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

SAGE has been the subject of several recent analyst reports. Cowen dropped their price target on SAGE Therapeutics from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 12th. JPMorgan Chase & Co. dropped their price target on SAGE Therapeutics from $99.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. Canaccord Genuity dropped their price target on SAGE Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, September 12th. SunTrust Banks restated a “buy” rating and issued a $82.00 price target (down from $95.00) on shares of SAGE Therapeutics in a research note on Wednesday, September 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $91.00 price target (down from $104.00) on shares of SAGE Therapeutics in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $171.21.

SAGE Therapeutics Inc (NASDAQ SAGE) opened at $164.71 on Monday. The company has a market capitalization of $6,820.00, a P/E ratio of -23.98 and a beta of 3.03. SAGE Therapeutics Inc has a 52-week low of $44.55 and a 52-week high of $173.36.

SAGE Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating analysts’ consensus estimates of ($1.98) by $0.01. The firm’s revenue was up .0% compared to the same quarter last year. equities analysts expect that SAGE Therapeutics Inc will post -7.42 EPS for the current year.

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

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