Sage Therapeutics Inc. (SAGE) Receives Average Rating of “Buy” from Analysts

Shares of Sage Therapeutics Inc. (NASDAQ:SAGE) have been given a consensus recommendation of “Buy” by the thirteen brokerages that are covering the firm. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $76.40.

Several research firms have recently commented on SAGE. Raymond James Financial Inc. upgraded Sage Therapeutics from an “outperform” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Wednesday. Canaccord Genuity restated a “buy” rating and issued a $110.00 price objective on shares of Sage Therapeutics in a research note on Tuesday, December 6th. Stifel Nicolaus began coverage on Sage Therapeutics in a research note on Monday, November 14th. They issued a “buy” rating and a $90.00 price objective for the company. Zacks Investment Research upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Finally, Cowen and Company restated a “buy” rating on shares of Sage Therapeutics in a research note on Thursday, November 3rd.

In related news, CFO Kimi Iguchi sold 1,500 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.59, for a total value of $75,885.00. Following the completion of the transaction, the chief financial officer now owns 79,739 shares of the company’s stock, valued at approximately $4,033,996.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Sage Therapeutics by 197.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,401,678 shares of the biopharmaceutical company’s stock worth $64,547,000 after buying an additional 930,608 shares during the last quarter. Marshall Wace LLP increased its position in shares of Sage Therapeutics by 1,066.7% in the second quarter. Marshall Wace LLP now owns 690,965 shares of the biopharmaceutical company’s stock worth $20,818,000 after buying an additional 631,743 shares during the last quarter. Oak Ridge Investments LLC increased its position in shares of Sage Therapeutics by 80.6% in the third quarter. Oak Ridge Investments LLC now owns 1,154,481 shares of the biopharmaceutical company’s stock worth $53,164,000 after buying an additional 515,180 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Sage Therapeutics during the third quarter worth approximately $23,097,000. Finally, Palo Alto Investors LLC acquired a new position in shares of Sage Therapeutics during the second quarter worth approximately $12,591,000.

Sage Therapeutics (NASDAQ:SAGE) traded down 0.25% on Wednesday, hitting $47.95. The stock had a trading volume of 484,246 shares. The firm’s market cap is $1.78 billion. The company’s 50 day moving average price is $48.51 and its 200 day moving average price is $41.28. Sage Therapeutics has a 52-week low of $26.28 and a 52-week high of $62.64.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.10) by $0.05. Analysts expect that Sage Therapeutics will post ($4.36) EPS for the current year.

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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. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor.