Health Care

Trader Alert: Unusual Volume Spotted in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Trader Alert: Unusual Volume Spotted in Sage Therapeutics, Inc. (NASDAQ:SAGE)”

Current levels places Sage Therapeutics, Inc. While the stock price moved along with the volume change, shares are touching $74.89. Palo Alto Investors LLC purchased a new stake in shares of Sage Therapeutics during the second quarter worth approximately $12,591,000. FMR LLC now owns 5,590,527 shares of the biopharmaceutical company's stock worth $397,319,000 after purchasing an additional 15,451 shares during the period.

Sage Therapeutics Inc said it would stop developing its drug to treat a life-threatening seizure disorder after the treatment failed to meet the main goal of a key study. The Middleton & Co Inc holds 60,830 shares with $5.25M value, up from 38,680 last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Sage Therapeutics by 10.8% in the 1st quarter. During the same quarter previous year, the firm posted ($1.08) earnings per share. For the week, the stock is performing 1.75%. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Sage Therapeutics in the first quarter valued at $35,493,000. Jpmorgan Chase & reported 998,787 shares or 0.01% of all its holdings.

Among 14 analysts covering SAGE Therapeutics (NASDAQ:SAGE), 11 have Buy rating, 0 Sell and 3 Hold. If you are viewing this article on another domain, it was illegally copied and republished in violation of worldwide copyright legislation. The legal version of this news story can be accessed at The stock of SAGE Therapeutics Inc (NASDAQ:SAGE) has "Outperform" rating given on Wednesday, June 29 by BMO Capital Markets. (SAGE) was up +1.75% during the last day of trading, with a day high of 89.83. The firm's 50 day moving average price is $50.54 and its 200-day moving average price is $45.86. The company has market cap of $5.29 billion. SAGE Therapeutics Inc (NASDAQ:SAGE) has risen 116.45% since September 12, 2016 and is uptrending. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($1.63) by $0.25. During the same period in the prior year, the company posted ($1.08) EPS.

"The SRSE study showed little signal and we'd be very surprised if Sage continued clinical development in this context", Leerink Research analyst Paul Matteis wrote in a client note. Cowen and Company restated a "buy" rating and set a $100.00 target price on shares of Sage Therapeutics in a report on Friday, August 4th. On Friday, July 14 the stock rating was maintained by Stifel Nicolaus with "Buy".

03/11/2016 - Lake Street began new coverage on Sage Therapeutics, Inc. giving the company a "buy" rating. They set a "buy" rating and a $104.00 target price for the company.

05/10/2017 - Sage Therapeutics, Inc. had its "buy" rating reiterated by analysts at Canaccord Genuity. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. BMO Capital Markets reissued a "positive" rating and issued a $68.00 target price on shares of Sage Therapeutics in a research report on Monday.

The late-stage trial was testing Sage's drug, brexanolone, in patients with super-refractory status epilepticus (SRSE) whose seizures persisted despite earlier treatments. 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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