Farallon Capital Management LLC boosted its holdings in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 64.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 400,000 shares of the biopharmaceutical company’s stock after purchasing an additional 156,500 shares during the period. Farallon Capital Management LLC owned approximately 0.88% of SAGE Therapeutics worth $65,884,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in SAGE Therapeutics by 412.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 1,565 shares during the period. Bessemer Group Inc. purchased a new stake in SAGE Therapeutics during the third quarter worth approximately $141,000. Fortaleza Asset Management Inc. purchased a new stake in SAGE Therapeutics during the fourth quarter worth approximately $167,000. First Mercantile Trust Co. purchased a new stake in SAGE Therapeutics during the fourth quarter worth approximately $169,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of SAGE Therapeutics by 70.7% during the third quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after purchasing an additional 1,204 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.
SAGE has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on shares of SAGE Therapeutics from $145.00 to $137.00 and set an “outperform” rating on the stock in a report on Monday, November 27th. Morgan Stanley began coverage on shares of SAGE Therapeutics in a research report on Monday, February 26th. They set an “overweight” rating and a $225.00 price target for the company. SunTrust Banks upped their price target on shares of SAGE Therapeutics to $178.00 and gave the stock a “positive” rating in a research report on Friday, December 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $203.00 target price on shares of SAGE Therapeutics in a research report on Thursday, December 7th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $176.47.
In related news, Director Steven M. Paul sold 58,139 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $172.00, for a total transaction of $9,999,908.00. Following the transaction, the director now directly owns 632,712 shares of the company’s stock, valued at approximately $108,826,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Jonas sold 210,247 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 211,473 shares in the company, valued at $33,296,423.85. The disclosure for this sale can be found here. Insiders sold a total of 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.
SAGE Therapeutics Inc (SAGE) traded down $0.07 during trading on Wednesday, hitting $173.84. The company had a trading volume of 221,387 shares, compared to its average volume of 656,229. The company has a market capitalization of $7,960.00, a PE ratio of -24.52 and a beta of 3.07. SAGE Therapeutics Inc has a fifty-two week low of $59.57 and a fifty-two week high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.98) by $0.23. During the same period last year, the business earned ($1.50) EPS. analysts forecast that SAGE Therapeutics Inc will post -8.34 EPS for the current fiscal year.
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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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