Tocqueville Asset Management L.P. Acquires 10,400 Shares of Sage Therapeutics, Inc. (SAGE)
Tocqueville Asset Management L.P. raised its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,450 shares of the biopharmaceutical company’s stock after buying an additional 10,400 shares during the period. Tocqueville Asset Management L.P. owned about 0.19% of Sage Therapeutics worth $5,690,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Turner Investments LLC acquired a new stake in Sage Therapeutics during the second quarter worth $159,000. Dubuque Bank & Trust Co. acquired a new stake in Sage Therapeutics during the second quarter worth $167,000. Canada Pension Plan Investment Board acquired a new stake in Sage Therapeutics during the second quarter worth $175,000. Ameritas Investment Partners Inc. acquired a new stake in Sage Therapeutics during the first quarter worth $180,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Sage Therapeutics during the first quarter worth $202,000.
Sage Therapeutics, Inc. (NASDAQ:SAGE) opened at 81.00 on Thursday. The stock has a 50 day moving average of $82.28 and a 200 day moving average of $72.30. Sage Therapeutics, Inc. has a 12-month low of $35.74 and a 12-month high of $90.43. The firm’s market cap is $3.03 billion.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by $0.25. During the same period last year, the company posted ($1.08) earnings per share. On average, equities research analysts anticipate that Sage Therapeutics, Inc. will post ($7.38) EPS for the current fiscal year.
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SAGE has been the subject of a number of recent research reports. BidaskClub downgraded shares of Sage Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets restated a “buy” rating and set a $82.00 price objective on shares of Sage Therapeutics in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $90.00 price objective on shares of Sage Therapeutics in a report on Friday, July 14th. Needham & Company LLC assumed coverage on shares of Sage Therapeutics in a report on Monday, May 15th. They set a “buy” rating and a $82.00 price objective for the company. Finally, Bank of America Corporation assumed coverage on shares of Sage Therapeutics in a report on Friday, May 12th. They set a “buy” rating and a $85.00 price objective for the company. Five investment 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’s stock. Sage Therapeutics presently has an average rating of “Buy” and a consensus target price of $89.64.
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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