Royal Bank Of Canada started coverage on shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in a report released on Thursday, The Fly reports. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on SAGE. BMO Capital Markets boosted their price objective on shares of Sage Therapeutics from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday. Chardan Capital reiterated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Needham & Company LLC cut their price objective on shares of Sage Therapeutics from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $91.00 price objective (down previously from $104.00) on shares of Sage Therapeutics in a report on Wednesday. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $82.00 price objective (down previously from $95.00) on shares of Sage Therapeutics in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Sage Therapeutics currently has a consensus rating of “Buy” and an average target price of $84.25.

Sage Therapeutics (NASDAQ SAGE) traded down 7.90% during midday trading on Thursday, hitting $64.81. The stock had a trading volume of 1,833,702 shares. Sage Therapeutics has a 12-month low of $38.30 and a 12-month high of $90.80. The firm’s market cap is $2.43 billion. The stock has a 50-day moving average price of $81.85 and a 200 day moving average price of $74.87.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results 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 period in the previous year, the firm earned ($1.08) EPS. On average, equities analysts anticipate that Sage Therapeutics will post ($7.38) earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the business. State of Wisconsin Investment Board bought a new stake in Sage Therapeutics in the 2nd quarter valued at $1,991,000. Schwab Charles Investment Management Inc. boosted its holdings in Sage Therapeutics by 1.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 131,440 shares of the biopharmaceutical company’s stock valued at $9,342,000 after purchasing an additional 1,593 shares during the period. Teacher Retirement System of Texas bought a new stake in Sage Therapeutics in the 2nd quarter valued at $202,000. Spark Investment Management LLC bought a new stake in Sage Therapeutics in the 1st quarter valued at $4,086,000. Finally, Amalgamated Bank bought a new stake in Sage Therapeutics in the 1st quarter valued at $262,000.

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.

The Fly

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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