BidaskClub upgraded shares of SAGE Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research report report published on Wednesday.
A number of other brokerages also recently weighed in on SAGE. JPMorgan Chase & Co. reaffirmed a buy rating on shares of SAGE Therapeutics in a research note on Wednesday, January 10th. Stifel Nicolaus reissued a buy rating and set a $198.00 price target on shares of SAGE Therapeutics in a research note on Friday, December 8th. Cowen reissued a buy rating on shares of SAGE Therapeutics in a research note on Monday, December 11th. Morgan Stanley assumed coverage on shares of SAGE Therapeutics in a research note on Monday, February 26th. They set an overweight rating and a $225.00 price target on the stock. Finally, SunTrust Banks lifted their price target on shares of SAGE Therapeutics to $203.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $176.47.
Shares of SAGE Therapeutics (NASDAQ:SAGE) traded up $8.28 on Wednesday, reaching $177.75. 480,272 shares of the company were exchanged, compared to its average volume of 715,218. The stock has a market capitalization of $8,137.04, a P/E ratio of -24.96 and a beta of 3.07. SAGE Therapeutics has a 1-year low of $59.57 and a 1-year high of $195.97.
In other news, CEO Jeffrey M. Jonas sold 210,247 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 211,473 shares in the company, valued at $33,296,423.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Albert Robichaud sold 60,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 152,759 shares in the company, valued at approximately $24,354,367.37. The disclosure for this sale can be found here. Insiders sold 372,386 shares of company stock worth $60,465,018 in the last 90 days. Company insiders own 6.10% of the company’s stock.
Several institutional investors have recently modified their holdings of SAGE. Oppenheimer Asset Management Inc. grew its holdings in shares of SAGE Therapeutics by 412.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 1,565 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of SAGE Therapeutics in the third quarter worth approximately $141,000. Fortaleza Asset Management Inc. bought a new position in shares of SAGE Therapeutics in the fourth quarter worth approximately $167,000. First Mercantile Trust Co. bought a new stake in SAGE Therapeutics in the fourth quarter valued at $169,000. Finally, Envestnet Asset Management Inc. boosted its holdings in SAGE Therapeutics by 70.7% in the third quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 1,204 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.
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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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