Sage Therapeutics, Inc. (NASDAQ:SAGE) had its price target dropped by equities researchers at Needham & Company LLC from $95.00 to $86.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price indicates a potential upside of 22.21% from the company’s current price.

A number of other equities research analysts also recently issued reports on SAGE. Cowen and Company cut their target price on shares of Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday. BidaskClub downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $82.00 target price (down previously from $95.00) on shares of Sage Therapeutics in a research report on Wednesday. HC Wainwright increased their target price on shares of Sage Therapeutics to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Finally, Stifel Nicolaus assumed coverage on shares of Sage Therapeutics in a research report on Wednesday, August 9th. They issued a “buy” rating and a $104.00 target price for the company. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $84.08.

Shares of Sage Therapeutics (NASDAQ:SAGE) opened at 70.37 on Wednesday. Sage Therapeutics has a 12 month low of $38.30 and a 12 month high of $90.80. The stock’s market capitalization is $2.63 billion. The company’s 50-day moving average is $82.79 and its 200-day moving average is $74.97.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.25). During the same period in the prior year, the firm posted ($1.08) EPS. Equities research analysts expect that Sage Therapeutics will post ($7.38) earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Sage Therapeutics by 164.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 7,513 shares of the biopharmaceutical company’s stock worth $598,000 after purchasing an additional 4,671 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Sage Therapeutics by 19.6% during the 2nd 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. California State Teachers Retirement System increased its stake in shares of Sage Therapeutics by 3.2% during the 2nd quarter. California State Teachers Retirement System now owns 61,252 shares of the biopharmaceutical company’s stock worth $4,878,000 after purchasing an additional 1,910 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Sage Therapeutics by 41.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,682 shares of the biopharmaceutical company’s stock valued at $691,000 after buying an additional 2,525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Sage Therapeutics by 13.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,980 shares of the biopharmaceutical company’s stock valued at $2,149,000 after buying an additional 3,216 shares during the last quarter.

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.

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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