SAGE Therapeutics Inc (NASDAQ:SAGE) Director James M. Frates Sells 8,000 Shares

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SAGE Therapeutics Inc (NASDAQ:SAGE) Director James M. Frates sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $160.58, for a total transaction of $1,284,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of SAGE stock opened at $162.00 on Friday. The company’s fifty day simple moving average is $174.43 and its 200-day simple moving average is $166.67. SAGE Therapeutics Inc has a 52 week low of $79.88 and a 52 week high of $193.56. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $8.41 billion, a PE ratio of -20.05 and a beta of 2.53.

SAGE Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($3.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.32) by $0.04. The business had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $0.27 million. During the same period in the prior year, the business posted ($0.36) EPS. The business’s revenue was down 99.0% on a year-over-year basis. Equities research analysts expect that SAGE Therapeutics Inc will post -13.32 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in SAGE Therapeutics by 380.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,922 shares of the biopharmaceutical company’s stock worth $351,000 after acquiring an additional 1,522 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in SAGE Therapeutics by 40.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 191,457 shares of the biopharmaceutical company’s stock worth $35,054,000 after acquiring an additional 54,998 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in SAGE Therapeutics during the 2nd quarter worth $373,000. Essex Investment Management Co. LLC acquired a new position in SAGE Therapeutics during the 2nd quarter worth $1,159,000. Finally, Nuveen Asset Management LLC acquired a new position in SAGE Therapeutics during the 2nd quarter worth $113,776,000.

A number of research firms have weighed in on SAGE. LADENBURG THALM/SH SH set a $220.00 price target on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer cut their price target on shares of SAGE Therapeutics from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Wedbush began coverage on shares of SAGE Therapeutics in a research note on Wednesday, May 22nd. They set an “outperform” rating and a $207.00 price target on the stock. BidaskClub raised shares of SAGE Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. SAGE Therapeutics has a consensus rating of “Buy” and an average target price of $200.27.

SAGE Therapeutics Company Profile

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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