Sage Therapeutics (NASDAQ:SAGE) had its target price increased by equities researchers at Royal Bank Of Canada from $137.00 to $280.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has a “sell” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 79.18% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on SAGE. 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 report on Tuesday, September 12th. Bank of America cut their price objective on shares of Sage Therapeutics from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. SunTrust Banks restated a “buy” rating and set a $82.00 price objective (down previously from $95.00) on shares of Sage Therapeutics in a report on Wednesday, September 13th. Stifel Nicolaus initiated coverage on shares of Sage Therapeutics in a report on Wednesday, August 9th. They issued a “buy” rating and a $104.00 price target on the stock. Finally, BMO Capital Markets increased their price target on shares of Sage Therapeutics from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Sage Therapeutics presently has an average rating of “Buy” and a consensus price target of $121.86.

Sage Therapeutics (NASDAQ SAGE) traded up $64.37 on Thursday, hitting $156.27. 8,229,955 shares of the stock traded hands, compared to its average volume of 548,792. Sage Therapeutics has a 12-month low of $44.55 and a 12-month high of $100.50.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.01. The business’s revenue was up .0% on a year-over-year basis. sell-side analysts forecast that Sage Therapeutics will post -7.4 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sage Therapeutics by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 138 shares in the last quarter. Hershey Trust Co. purchased a new stake in Sage Therapeutics in the 3rd quarter worth approximately $118,000. Oppenheimer Asset Management Inc. boosted its position in Sage Therapeutics by 412.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 1,565 shares in the last quarter. Turner Investments LLC purchased a new stake in Sage Therapeutics in the 2nd quarter worth approximately $159,000. Finally, Dubuque Bank & Trust Co. purchased a new stake in Sage Therapeutics in the 2nd quarter worth approximately $167,000. Institutional investors own 95.40% of the company’s stock.

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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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