SAGE Therapeutics’ Quiet Period Will End on August 27th (NASDAQ:SAGE)
SAGE Therapeutics’ (NASDAQ:SAGE) quiet period will end on Wednesday, August 27th. SAGE Therapeutics had issued 5,000,000 shares in its initial public offering on July 18th, Analyst Ratings.Net reports. The total size of the offering was $90,000,000 based on an initial share price of $18.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of analysts have recently weighed in on SAGE shares. Analysts at Canaccord Genuity initiated coverage on shares of SAGE Therapeutics in a research note on Tuesday, August 12th. They set a “buy” rating and a $40.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of SAGE Therapeutics in a research note on Tuesday, August 12th. They set an “overweight” rating and a $42.00 price target on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of SAGE Therapeutics in a research note on Tuesday, August 12th. They set a “neutral” rating and a $38.00 price target on the stock.
Shares of SAGE Therapeutics (NASDAQ:SAGE) remained flat at $29.00 during trading on Friday. 406 shares of the company’s stock traded hands. SAGE Therapeutics has a 52 week low of $24.25 and a 52 week high of $34.88. The stock’s 50-day moving average is $28.83 and its 200-day moving average is $28.83. The company’s market cap is $745.6 million.
SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($4.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by $3.34. On average, analysts predict that SAGE Therapeutics will post $-2.00 earnings per share for the current fiscal year.
SAGE Therapeutics, Inc is a biopharmaceutical company. The Company is focused on development and commercialization of therapies for the treatment of life-threatening, rare central nervous system (NASDAQ:SAGE) disorders.
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