BMO Capital Markets Reiterates “Buy” Rating for Sage Therapeutics, Inc. (SAGE)
Sage Therapeutics, Inc. (NASDAQ:SAGE)‘s stock had its “buy” rating reaffirmed by stock analysts at BMO Capital Markets in a report released on Friday. They currently have a $80.00 price objective on the biopharmaceutical company’s stock. BMO Capital Markets’ target price points to a potential upside of 24.63% from the company’s previous close.
Several other research firms also recently commented on SAGE. Canaccord Genuity dropped their target price on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $82.00 target price (down from $95.00) on shares of Sage Therapeutics in a research report on Wednesday, September 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $117.00 target price on shares of Sage Therapeutics in a research report on Wednesday, October 18th. Stifel Nicolaus initiated coverage on Sage Therapeutics in a research report on Wednesday, August 9th. They issued a “buy” rating and a $104.00 target price for the company. Finally, Cowen and Company dropped their target price on Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $86.50.
Shares of Sage Therapeutics (NASDAQ SAGE) traded up 5.71% during mid-day trading on Friday, reaching $64.19. The company’s stock had a trading volume of 494,271 shares. The firm’s market cap is $2.40 billion. Sage Therapeutics has a 12 month low of $38.30 and a 12 month high of $90.80. The company has a 50-day moving average of $66.24 and a 200-day moving average of $73.93.
Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.25). During the same quarter in the previous year, the company posted ($1.08) earnings per share. On average, analysts predict that Sage Therapeutics will post ($7.40) earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 acquiring an additional 138 shares during the last quarter. Hershey Trust Co. bought a new position in shares of Sage Therapeutics during the third quarter worth about $118,000. Turner Investments LLC bought a new position in shares of Sage Therapeutics during the second quarter worth about $159,000. Dubuque Bank & Trust Co. bought a new position in shares of Sage Therapeutics during the second quarter worth about $167,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Sage Therapeutics during the second quarter worth about $175,000.
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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