Bank of America Corp DE Sells 6,572 Shares of Sage Therapeutics, Inc. (SAGE)

Bank of America Corp DE reduced its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,162 shares of the biopharmaceutical company’s stock after selling 6,572 shares during the period. Bank of America Corp DE owned 0.12% of Sage Therapeutics worth $3,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Sage Therapeutics during the first quarter worth $180,000. Dynamic Technology Lab Private Ltd purchased a new stake in Sage Therapeutics during the first quarter worth $202,000. Neuberger Berman Group LLC purchased a new stake in Sage Therapeutics during the first quarter worth $213,000. Keybank National Association OH purchased a new stake in Sage Therapeutics during the first quarter worth $244,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Sage Therapeutics during the first quarter worth $256,000.

Sage Therapeutics, Inc. (NASDAQ:SAGE) traded down 3.63% during trading on Tuesday, reaching $85.30. 77,218 shares of the company’s stock traded hands. Sage Therapeutics, Inc. has a 12 month low of $35.02 and a 12 month high of $88.93. The firm’s 50 day moving average is $81.06 and its 200-day moving average is $68.74. The company’s market capitalization is $3.19 billion.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.63) by $0.25. During the same quarter last year, the company earned ($1.08) earnings per share. Analysts expect that Sage Therapeutics, Inc. will post ($7.38) EPS for the current fiscal year.

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A number of research firms recently weighed in on SAGE. Cowen and Company reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Sage Therapeutics in a report on Friday. Needham & Company LLC began coverage on shares of Sage Therapeutics in a report on Monday, May 15th. They issued a “buy” rating and a $82.00 price objective on the stock. HC Wainwright increased their price objective on shares of Sage Therapeutics to $86.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Sage Therapeutics in a report on Friday, July 14th. Finally, Canaccord Genuity set a $110.00 price objective on shares of Sage Therapeutics and gave the stock a “buy” rating in a report on Wednesday, April 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $88.36.

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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