Sage Therapeutics, Inc. (SAGE) Price Target Cut to $81.00 by Analysts at Canaccord Genuity
Sage Therapeutics, Inc. (NASDAQ:SAGE) had its target price reduced by equities researchers at Canaccord Genuity from $110.00 to $81.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 15.11% from the company’s current price.
Several other brokerages also recently commented on SAGE. Leerink Swann reaffirmed an “outperform” rating and issued a $97.00 price objective (up previously from $90.00) on shares of Sage Therapeutics in a research report on Tuesday, June 20th. ValuEngine raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus started coverage on Sage Therapeutics in a research report on Wednesday, August 9th. They issued a “buy” rating and a $104.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Sage Therapeutics in a research report on Tuesday, June 13th. Finally, Cowen and Company cut their price objective on Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Sage Therapeutics presently has an average rating of “Buy” and a consensus price target of $84.08.
Shares of Sage Therapeutics (NASDAQ SAGE) opened at 70.37 on Tuesday. The stock’s market cap is $2.63 billion. Sage Therapeutics has a 52 week low of $38.30 and a 52 week high of $90.80. The company has a 50-day moving average price of $82.79 and a 200-day moving average price of $74.97.
Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.25). During the same quarter in the prior year, the company earned ($1.08) earnings per share. Equities analysts anticipate that Sage Therapeutics will post ($7.38) EPS for the current year.
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Several hedge funds have recently modified their holdings of SAGE. Teachers Advisors LLC lifted its holdings in shares of Sage Therapeutics by 15.0% in the 4th quarter. Teachers Advisors LLC now owns 49,296 shares of the biopharmaceutical company’s stock worth $2,517,000 after buying an additional 6,419 shares during the period. Bank of Montreal Can lifted its holdings in shares of Sage Therapeutics by 7,004.1% in the 1st quarter. Bank of Montreal Can now owns 12,006 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 11,837 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Sage Therapeutics in the 1st quarter worth $256,000. Russell Investments Group Ltd. lifted its holdings in shares of Sage Therapeutics by 82.1% in the 1st quarter. Russell Investments Group Ltd. now owns 19,679 shares of the biopharmaceutical company’s stock worth $1,399,000 after buying an additional 8,872 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Sage Therapeutics by 3.2% in the 1st quarter. Swiss National Bank now owns 52,100 shares of the biopharmaceutical company’s stock worth $3,703,000 after buying an additional 1,600 shares during the period.
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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