Lazard Asset Management LLC decreased its holdings in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 43.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,045 shares of the biopharmaceutical company’s stock after selling 6,855 shares during the quarter. Lazard Asset Management LLC’s holdings in SAGE Therapeutics were worth $1,488,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of SAGE. Bank of New York Mellon Corp grew its position in shares of SAGE Therapeutics by 36.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock worth $168,834,000 after buying an additional 724,494 shares during the period. BlackRock Inc. grew its holdings in SAGE Therapeutics by 16.4% during the fourth quarter. BlackRock Inc. now owns 3,444,171 shares of the biopharmaceutical company’s stock valued at $567,290,000 after purchasing an additional 486,135 shares during the period. Carillon Tower Advisers Inc. acquired a new position in SAGE Therapeutics during the fourth quarter valued at approximately $74,300,000. New York State Common Retirement Fund grew its holdings in SAGE Therapeutics by 258.0% during the third quarter. New York State Common Retirement Fund now owns 149,564 shares of the biopharmaceutical company’s stock valued at $9,318,000 after purchasing an additional 107,782 shares during the period. Finally, Emerald Advisers Inc. PA grew its holdings in SAGE Therapeutics by 123.0% during the fourth quarter. Emerald Advisers Inc. PA now owns 168,785 shares of the biopharmaceutical company’s stock valued at $27,801,000 after purchasing an additional 93,106 shares during the period. Institutional investors own 96.29% of the company’s stock.
A number of research analysts recently issued reports on SAGE shares. JPMorgan Chase & Co. restated a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday, January 10th. Royal Bank of Canada boosted their price objective on shares of SAGE Therapeutics from $137.00 to $280.00 and gave the company a “sell” rating in a report on Thursday, December 7th. They noted that the move was a valuation call. BidaskClub cut shares of SAGE Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Cowen restated a “buy” rating on shares of SAGE Therapeutics in a report on Monday, December 11th. Finally, Leerink Swann boosted their price objective on shares of SAGE Therapeutics from $123.00 to $246.00 in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. SAGE Therapeutics has an average rating of “Buy” and an average price target of $176.47.
In other news, Director Steven M. Paul sold 58,139 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $172.00, for a total value of $9,999,908.00. Following the completion of the transaction, the director now owns 632,712 shares in the company, valued at $108,826,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Kanes sold 44,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the completion of the transaction, the insider now owns 46,348 shares of the company’s stock, valued at approximately $8,211,938.64. The disclosure for this sale can be found here. Insiders sold 372,386 shares of company stock valued at $60,465,018 in the last quarter. Corporate insiders own 6.10% of the company’s stock.
SAGE Therapeutics Inc (NASDAQ:SAGE) opened at $177.75 on Monday. SAGE Therapeutics Inc has a 1-year low of $59.57 and a 1-year high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.23. During the same quarter last year, the firm posted ($1.50) earnings per share. research analysts forecast that SAGE Therapeutics Inc will post -8.2 earnings per share 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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