SAGE Therapeutics (SAGE) Trading Down 5.9%
SAGE Therapeutics Inc (NASDAQ:SAGE)’s share price dropped 5.9% on Tuesday . The stock traded as low as $155.69 and last traded at $156.14. Approximately 744,957 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 607,790 shares. The stock had previously closed at $165.89.
SAGE has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of SAGE Therapeutics from $117.00 to $120.00 in a research note on Thursday, November 2nd. Leerink Swann raised their target price on shares of SAGE Therapeutics from $123.00 to $246.00 in a research note on Thursday, December 7th. Needham & Company LLC decreased their target price on shares of SAGE Therapeutics from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and issued a $91.00 target price (down from $104.00) on shares of SAGE Therapeutics in a research note on Wednesday, September 13th. Finally, SunTrust Banks reissued a “buy” rating and issued a $82.00 target price (down from $95.00) 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 issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $171.21.
The stock has a market cap of $6,810.46, a price-to-earnings ratio of -22.73 and a beta of 3.03.
SAGE Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.98) by $0.01. SAGE Therapeutics’s revenue for the quarter was up .0% compared to the same quarter last year. research analysts expect that SAGE Therapeutics Inc will post -7.42 EPS for the current fiscal year.
In other news, CEO Jeffrey M. Jonas sold 210,247 shares of SAGE Therapeutics stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $157.45, for a total transaction of $33,103,390.15. Following the completion of the sale, the chief executive officer now owns 211,473 shares of the company’s stock, valued at $33,296,423.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Albert Robichaud sold 60,000 shares of SAGE Therapeutics stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $159.43, for a total value of $9,565,800.00. Following the sale, the insider now directly owns 152,759 shares of the company’s stock, valued at approximately $24,354,367.37. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SAGE. Bank of New York Mellon Corp lifted its holdings in shares of SAGE Therapeutics by 36.5% during the third quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock worth $168,834,000 after buying an additional 724,494 shares in the last quarter. BlackRock Inc. raised its stake in SAGE Therapeutics by 5.9% in the second quarter. BlackRock Inc. now owns 3,031,548 shares of the biopharmaceutical company’s stock valued at $241,431,000 after purchasing an additional 168,424 shares in the last quarter. New York State Common Retirement Fund raised its stake in SAGE Therapeutics by 258.0% in the third 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 in the last quarter. Farallon Capital Management LLC acquired a new position in SAGE Therapeutics in the second quarter valued at about $7,964,000. Finally, State Street Corp raised its stake in SAGE Therapeutics by 7.7% in the second quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock valued at $96,558,000 after purchasing an additional 87,097 shares in the last quarter. 95.33% of the stock is owned by institutional investors.
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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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