Sage Therapeutics, Inc. (SAGE) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have received an average recommendation of “Buy” from the seventeen research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $88.85.
SAGE has been the subject of a number of research analyst reports. J P Morgan Chase & Co reduced their price target on shares of Sage Therapeutics from $99.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Leerink Swann reaffirmed an “outperform” rating and set a $97.00 price objective (up previously from $90.00) on shares of Sage Therapeutics in a research report on Tuesday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Sage Therapeutics in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $90.00 price objective on shares of Sage Therapeutics in a research report on Friday, July 14th. Finally, Canaccord Genuity cut their price objective on shares of Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, September 12th.
Sage Therapeutics (NASDAQ SAGE) opened at 62.47 on Wednesday. The firm’s market cap is $2.34 billion. Sage Therapeutics has a 12 month low of $38.30 and a 12 month high of $90.80. The company’s 50-day moving average is $71.86 and its 200 day moving average is $74.48.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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 last year, the firm earned ($1.08) EPS. On average, equities research analysts predict that Sage Therapeutics will post ($7.40) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sage Therapeutics by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 138 shares during the last quarter. Turner Investments LLC acquired a new position in Sage Therapeutics during the second quarter valued at approximately $159,000. Dubuque Bank & Trust Co. acquired a new position in Sage Therapeutics during the second quarter valued at approximately $167,000. Canada Pension Plan Investment Board acquired a new position in Sage Therapeutics during the second quarter valued at approximately $175,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Sage Therapeutics during the first quarter valued at approximately $180,000.
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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.
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