SAGE Therapeutics Inc (NASDAQ:SAGE) shares were up 5% on Wednesday . The company traded as high as $159.55 and last traded at $159.37, approximately 250,635 shares traded hands during mid-day trading. A decline of 49% from the average daily volume of 493,761 shares. The stock had previously closed at $151.77.
A number of equities research analysts have recently weighed in on SAGE shares. BidaskClub lowered shares of SAGE Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, July 24th. William Blair reissued a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, July 24th. Oppenheimer cut their target price on shares of SAGE Therapeutics from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush began coverage on shares of SAGE Therapeutics in a research report on Wednesday, May 22nd. They issued an “outperform” rating and a $207.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $200.27.
The stock has a 50 day moving average price of $164.49 and a 200 day moving average price of $168.11. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -19.72 and a beta of 2.55. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.03.
In related news, Director James M. Frates sold 8,000 shares of SAGE Therapeutics stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $160.58, for a total transaction of $1,284,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SAGE. Icon Wealth Partners LLC bought a new position in shares of SAGE Therapeutics during the first quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in shares of SAGE Therapeutics in the second quarter worth $44,000. Cornerstone Advisors Inc. grew its stake in shares of SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 68 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in SAGE Therapeutics in the first quarter valued at $58,000. Finally, Tobam acquired a new stake in SAGE Therapeutics in the second quarter valued at $92,000.
About SAGE Therapeutics (NASDAQ:SAGE)
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).
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