Eagle Asset Management Inc. Sells 243,430 Shares of Sage Therapeutics Inc. (SAGE)
Eagle Asset Management Inc. decreased its position in Sage Therapeutics Inc. (NASDAQ:SAGE) by 27.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 630,494 shares of the biopharmaceutical company’s stock after selling 243,430 shares during the period. Eagle Asset Management Inc. owned approximately 1.96% of Sage Therapeutics worth $29,034,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in Sage Therapeutics by 38.2% in the second quarter. Teacher Retirement System of Texas now owns 3,522 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 973 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Sage Therapeutics by 129.1% in the third quarter. BNP Paribas Arbitrage SA now owns 2,369 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,335 shares during the last quarter. Legal & General Group Plc raised its stake in Sage Therapeutics by 30.6% in the second quarter. Legal & General Group Plc now owns 5,414 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 1,268 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Sage Therapeutics during the second quarter worth $208,000. Finally, Cowen Group Inc. purchased a new stake in Sage Therapeutics during the second quarter worth $211,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.
Sage Therapeutics Inc. (NASDAQ:SAGE) traded up 1.53% during midday trading on Friday, hitting $51.77. The stock had a trading volume of 196,370 shares. The company’s market cap is $1924.14 billion. Sage Therapeutics Inc. has a 12-month low of $26.28 and a 12-month high of $62.64. The company has a 50-day moving average price of $45.72 and a 200-day moving average price of $39.55.
Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.10) by $0.05. Equities analysts anticipate that Sage Therapeutics Inc. will post ($4.35) EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This article was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The original version of this article can be accessed at https://www.thecerbatgem.com/2016/11/27/eagle-asset-management-inc-sells-243430-shares-of-sage-therapeutics-inc-sage.html.
SAGE has been the topic of a number of recent research reports. BMO Capital Markets restated a “buy” rating and set a $57.00 target price on shares of Sage Therapeutics in a research note on Friday, August 12th. Stifel Nicolaus initiated coverage on shares of Sage Therapeutics in a research note on Monday, November 14th. They set a “buy” rating and a $90.00 target price on the stock. Cowen and Company restated a “buy” rating on shares of Sage Therapeutics in a research note on Thursday, November 3rd. Canaccord Genuity set a $110.00 target price on shares of Sage Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Zacks Investment Research upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $69.54.
In related news, CFO Kimi Iguchi sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $40.93, for a total transaction of $102,325.00. Following the sale, the chief financial officer now directly owns 81,239 shares in the company, valued at approximately $3,325,112.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.
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. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor.
Receive News & Stock Ratings for Sage Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sage Therapeutics Inc. and related stocks with our FREE daily email newsletter.