BidaskClub upgraded shares of SAGE Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research note published on Saturday morning.
SAGE has been the topic of a number of other research reports. Royal Bank of Canada reduced their price objective on SAGE Therapeutics from $145.00 to $137.00 and set an outperform rating on the stock in a research note on Monday, November 27th. SunTrust Banks set a $82.00 price objective on SAGE Therapeutics and gave the stock a buy rating in a research note on Thursday, October 19th. Chardan Capital raised SAGE Therapeutics from a neutral rating to a buy rating and lifted their price objective for the stock from $60.00 to $140.00 in a research note on Friday, November 10th. BMO Capital Markets reaffirmed a buy rating and issued a $80.00 price objective on shares of SAGE Therapeutics in a research note on Friday, October 27th. Finally, Leerink Swann lifted their price objective on SAGE Therapeutics from $85.00 to $123.00 and gave the stock a positive rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. SAGE Therapeutics has an average rating of Buy and an average price target of $171.21.
SAGE Therapeutics (NASDAQ SAGE) traded down $5.55 during trading hours on Friday, reaching $186.78. The company’s stock had a trading volume of 341,910 shares, compared to its average volume of 526,557. SAGE Therapeutics has a 1-year low of $46.11 and a 1-year high of $195.97. The company has a market cap of $7,668.07, a P/E ratio of -27.19 and a beta of 2.98.
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, CEO Jeffrey M. Jonas sold 210,247 shares of SAGE Therapeutics stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $157.45, for a total value of $33,103,390.15. Following the completion of the transaction, the chief executive officer now owns 211,473 shares of the company’s stock, valued at approximately $33,296,423.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,247 shares of company stock valued at $50,465,110. Company insiders own 6.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SAGE Therapeutics by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,749,954 shares of the biopharmaceutical company’s stock valued at $219,006,000 after acquiring an additional 58,679 shares during the period. Bank of New York Mellon Corp boosted its holdings in SAGE Therapeutics by 36.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock valued at $168,834,000 after acquiring an additional 724,494 shares during the period. State Street Corp boosted its holdings in SAGE Therapeutics by 7.7% during the 2nd quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock valued at $96,558,000 after acquiring an additional 87,097 shares during the period. Oak Ridge Investments LLC boosted its holdings in SAGE Therapeutics by 0.9% during the 3rd quarter. Oak Ridge Investments LLC now owns 736,709 shares of the biopharmaceutical company’s stock valued at $45,897,000 after acquiring an additional 6,835 shares during the period. Finally, Northern Trust Corp boosted its holdings in SAGE Therapeutics by 17.9% during the 2nd quarter. Northern Trust Corp now owns 411,444 shares of the biopharmaceutical company’s stock valued at $32,767,000 after acquiring an additional 62,474 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.
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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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