Nexthera Capital LP purchased a new stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) in the 4th quarter, HoldingsChannel reports. The firm purchased 55,834 shares of the biopharmaceutical company’s stock, valued at approximately $9,196,000. SAGE Therapeutics makes up 1.7% of Nexthera Capital LP’s investment portfolio, making the stock its 17th largest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in SAGE Therapeutics by 412.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 1,565 shares during the period. Bessemer Group Inc. bought a new position in SAGE Therapeutics during the third quarter valued at about $141,000. Fortaleza Asset Management Inc. bought a new position in SAGE Therapeutics during the fourth quarter valued at about $167,000. First Mercantile Trust Co. bought a new position in SAGE Therapeutics during the fourth quarter valued at about $169,000. Finally, Envestnet Asset Management Inc. grew its position in SAGE Therapeutics by 70.7% during the third quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock valued at $182,000 after buying an additional 1,204 shares during the period. Institutional investors own 96.29% of the company’s stock.
SAGE Therapeutics Inc (SAGE) opened at $178.65 on Tuesday. SAGE Therapeutics Inc has a 1 year low of $59.57 and a 1 year high of $195.97. The company has a market cap of $8,137.03, a P/E ratio of -25.09 and a beta of 3.07.
In other news, Director Steven M. Paul sold 58,139 shares of the firm’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 directly owns 632,712 shares in the company, valued at $108,826,464. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Albert Robichaud sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $159.43, for a total transaction of $9,565,800.00. Following the completion of the transaction, the insider now owns 152,759 shares of the company’s stock, valued at $24,354,367.37. The disclosure for this sale can be found here. Insiders sold 372,386 shares of company stock valued at $60,465,018 over the last 90 days. 6.10% of the stock is owned by company insiders.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of SAGE Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. SunTrust Banks increased their target price on shares of SAGE Therapeutics to $203.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley started coverage on shares of SAGE Therapeutics in a research report on Monday, February 26th. They set an “overweight” rating and a $225.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $193.00 target price on shares of SAGE Therapeutics in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, January 10th. 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. The stock presently has a consensus rating of “Buy” and an average price target of $176.47.
SAGE Therapeutics 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. 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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