Stephen Kanes Sells 44,000 Shares of SAGE Therapeutics Inc (SAGE) Stock

SAGE Therapeutics Inc (NASDAQ:SAGE) insider Stephen Kanes sold 44,000 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the sale, the insider now directly owns 46,348 shares in the company, valued at $8,211,938.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

SAGE Therapeutics Inc (NASDAQ SAGE) traded up $1.26 on Friday, hitting $175.86. 323,490 shares of the company traded hands, compared to its average volume of 1,070,000. SAGE Therapeutics Inc has a twelve month low of $44.55 and a twelve month high of $180.83. The firm has a market capitalization of $7,220.00, a PE ratio of -25.60 and a beta of 3.05.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.01. The company’s revenue was up .0% on a year-over-year basis. sell-side analysts anticipate that SAGE Therapeutics Inc will post -7.42 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System raised its holdings in SAGE Therapeutics by 58.7% in the third quarter. California Public Employees Retirement System now owns 12,699 shares of the biopharmaceutical company’s stock valued at $791,000 after buying an additional 4,699 shares during the period. Bamco Inc. NY raised its holdings in SAGE Therapeutics by 13.9% in the third quarter. Bamco Inc. NY now owns 93,458 shares of the biopharmaceutical company’s stock valued at $5,822,000 after buying an additional 11,434 shares during the period. Jane Street Group LLC purchased a new position in SAGE Therapeutics in the third quarter valued at approximately $817,000. Alyeska Investment Group L.P. raised its holdings in SAGE Therapeutics by 31.2% in the third quarter. Alyeska Investment Group L.P. now owns 110,797 shares of the biopharmaceutical company’s stock valued at $6,903,000 after buying an additional 26,348 shares during the period. Finally, Cowen Inc. purchased a new position in SAGE Therapeutics in the third quarter valued at approximately $1,246,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Several equities research analysts recently issued reports on SAGE shares. Goldman Sachs Group reissued a “buy” rating and issued a $87.00 target price on shares of SAGE Therapeutics in a research report on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and issued a $117.00 target price on shares of SAGE Therapeutics in a research report on Wednesday, October 18th. SunTrust Banks set a $82.00 target price on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research report on Thursday, October 19th. BMO Capital Markets reissued a “buy” rating and issued a $80.00 target price on shares of SAGE Therapeutics in a research report on Friday, October 27th. Finally, Leerink Swann raised their target price on shares of SAGE Therapeutics from $85.00 to $123.00 and gave the stock a “positive” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $171.21.

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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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