Trade Report: Today, Alps Advisors Inc. decides to keep it stake in Sage Therapeutics Inc. (SAGE) to the level of $1,884,000

Today, Alps Advisors Inc. decides to keep it stake in Sage Therapeutics Inc. (SAGE) to the level of $1,884,000

Alps Advisors Inc. reduced its position in shares of Sage Therapeutics Inc. (NASDAQ:SAGE) by 9.2% during the third quarter, Holdings Channel reports. The firm owned 40,914 shares of the biopharmaceutical company’s stock after selling 4,130 shares during the period. Alps Advisors Inc. owned approximately 0.13% of Sage Therapeutics worth $1,884,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of 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 valued at $106,000 after buying an additional 973 shares in 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 valued at $109,000 after buying an additional 1,335 shares in 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 valued at $157,000 after buying an additional 1,268 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Sage Therapeutics during the second quarter valued at approximately $208,000. Finally, Cowen Group Inc. acquired a new stake in Sage Therapeutics during the second quarter valued at approximately $211,000. 90.46% of the stock is owned by institutional investors.

Sage Therapeutics Inc. (NASDAQ:SAGE) traded up 1.53% during trading on Friday, reaching $51.77. 196,370 shares of the company’s stock were exchanged. Sage Therapeutics Inc. has a 52 week low of $26.28 and a 52 week high of $62.64. The stock’s market capitalization is $1.92 billion. The company’s 50 day moving average price is $45.50 and its 200-day moving average price is $39.43.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.05. On average, equities analysts expect that Sage Therapeutics Inc. will post ($4.35) EPS for the current year.

Several analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Sage Therapeutics in a research report on Monday, November 14th. They issued a “buy” rating and a $90.00 price target on the stock. Cowen and Company reiterated a “buy” rating on shares of Sage Therapeutics in a research report on Thursday, November 3rd. Leerink Swann reiterated an “outperform” rating and issued a $68.00 price target on shares of Sage Therapeutics in a research report on Tuesday, October 4th. Raymond James Financial Inc. assumed coverage on shares of Sage Therapeutics in a research report on Tuesday, September 13th. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Canaccord Genuity set a $110.00 price target on shares of Sage Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $69.54.

In related news, CFO Kimi Iguchi sold 1,500 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $50.59, for a total value of $75,885.00. Following the sale, the chief financial officer now directly owns 79,739 shares in the company, valued at approximately $4,033,996.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Sage Therapeutics Company Profile

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.

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