Cowen Reiterates “Buy” Rating for Sage Therapeutics (SAGE)
Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “buy” rating restated by research analysts at Cowen in a report issued on Monday.
A number of other equities research analysts also recently weighed in on the stock. J P Morgan Chase & Co lowered their target price on shares of Sage Therapeutics from $99.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Royal Bank Of Canada raised their target price on shares of Sage Therapeutics from $117.00 to $120.00 in a research note on Thursday, November 2nd. Chardan Capital raised shares of Sage Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $140.00 in a research note on Friday, November 10th. Canaccord Genuity lowered their target price on shares of Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, September 12th. Finally, Leerink Swann raised their target price on shares of Sage Therapeutics from $85.00 to $123.00 and gave the company a “positive” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $171.21.
Sage Therapeutics (NASDAQ:SAGE) traded up $11.07 during mid-day trading on Monday, hitting $167.34. 4,670,600 shares of the stock were exchanged, compared to its average volume of 599,461. Sage Therapeutics has a one year low of $44.55 and a one year high of $173.36.
Several hedge funds have recently bought and sold shares of SAGE. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 in the last quarter. Hershey Trust Co. purchased a new position in shares of Sage Therapeutics during the third quarter worth approximately $118,000. Oppenheimer Asset Management Inc. raised its stake in shares of Sage Therapeutics by 412.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 1,565 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of Sage Therapeutics during the third quarter worth approximately $141,000. Finally, Turner Investments LLC purchased a new position in shares of Sage Therapeutics during the second quarter worth approximately $159,000. 95.40% of the stock is currently owned by hedge funds and other institutional investors.
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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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