Sage Therapeutics, Inc. (NASDAQ:SAGE) had its price objective decreased by stock analysts at Cowen and Company from $100.00 to $90.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Cowen and Company’s price target suggests a potential upside of 27.90% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Leerink Swann reaffirmed an “outperform” rating and issued a $97.00 price objective (up from $90.00) on shares of Sage Therapeutics in a research note on Tuesday, June 20th. Needham & Company LLC reiterated a “buy” rating and set a $82.00 target price on shares of Sage Therapeutics in a report on Tuesday, June 13th. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 target price on shares of Sage Therapeutics in a report on Friday, July 14th. BidaskClub cut Sage Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Sage Therapeutics in a report on Thursday, August 31st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Sage Therapeutics currently has a consensus rating of “Buy” and an average price target of $84.08.

Sage Therapeutics (SAGE) opened at 70.37 on Tuesday. The firm’s 50-day moving average price is $82.79 and its 200-day moving average price is $74.97. Sage Therapeutics has a 1-year low of $38.30 and a 1-year high of $90.80. The firm’s market cap is $2.63 billion.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.25). During the same quarter in the previous year, the firm earned ($1.08) earnings per share. On average, equities research analysts anticipate that Sage Therapeutics will post ($7.38) earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Sage Therapeutics by 1.1% during the first quarter. Principal Financial Group Inc. now owns 5,623 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 62 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sage Therapeutics by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 138 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Sage Therapeutics by 10.6% during the second quarter. Keybank National Association OH now owns 3,798 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 363 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Sage Therapeutics by 19.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,034 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 497 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Sage Therapeutics by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 59,336 shares of the biopharmaceutical company’s stock worth $4,723,000 after purchasing an additional 552 shares during the last quarter.

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. 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.

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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