SAGE Therapeutics Inc (SAGE) Receives Consensus Rating of “Buy” from Brokerages

SAGE Therapeutics Inc (NASDAQ:SAGE) has been given an average recommendation of “Buy” by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $184.29.

SAGE has been the subject of several research reports. SunTrust Banks increased their price target on SAGE Therapeutics to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, January 10th. Cowen reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Monday, December 11th. Needham & Company LLC reiterated a “buy” rating and set a $193.00 price target on shares of SAGE Therapeutics in a research note on Friday, February 23rd. Finally, ValuEngine upgraded SAGE Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd.

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In other SAGE Therapeutics news, insider Stephen Kanes sold 44,000 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total value of $7,795,920.00. Following the completion of the transaction, the insider now owns 46,348 shares in the company, valued at approximately $8,211,938.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven M. Paul sold 58,139 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $172.00, for a total value of $9,999,908.00. Following the completion of the transaction, the director now owns 632,712 shares of the company’s stock, valued at approximately $108,826,464. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SAGE. Oppenheimer Asset Management Inc. boosted its stake 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 during the period. Fortaleza Asset Management Inc. bought a new position in SAGE Therapeutics in the 4th quarter worth about $167,000. First Mercantile Trust Co. bought a new position in SAGE Therapeutics in the 4th quarter worth about $169,000. Envestnet Asset Management Inc. boosted its stake in SAGE Therapeutics by 70.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after purchasing an additional 1,204 shares during the period. Finally, CIBC Asset Management Inc bought a new position in SAGE Therapeutics in the 4th quarter worth about $213,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Shares of SAGE Therapeutics stock traded up $17.87 during trading hours on Wednesday, hitting $159.19. 561,778 shares of the company’s stock traded hands, compared to its average volume of 549,222. SAGE Therapeutics has a 12-month low of $59.57 and a 12-month high of $195.97. The firm has a market cap of $6,469.34, a PE ratio of -22.41 and a beta of 3.03.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, topping the consensus estimate of ($1.98) by $0.23. During the same period in the prior year, the company posted ($1.50) EPS. equities analysts forecast that SAGE Therapeutics will post -8.34 EPS for the current fiscal year.

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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.

Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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