SAGE Therapeutics Inc (NASDAQ:SAGE) has been given an average recommendation of “Buy” by the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $181.46.
A number of research analysts have weighed in on SAGE shares. Leerink Swann boosted their target price on shares of SAGE Therapeutics from $123.00 to $246.00 in a research report on Thursday, December 7th. Raymond James Financial reissued a “buy” rating and set a $206.00 target price on shares of SAGE Therapeutics in a research report on Thursday, December 7th. Canaccord Genuity set a $191.00 price objective on shares of SAGE Therapeutics and gave the stock a “buy” rating in a report on Thursday, December 7th. Needham & Company LLC boosted their price objective on shares of SAGE Therapeutics from $100.00 to $193.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $198.00 price objective on shares of SAGE Therapeutics in a report on Friday, December 8th.
SAGE Therapeutics (SAGE) traded up $0.21 during trading on Friday, reaching $174.05. 246,058 shares of the company’s stock were exchanged, compared to its average volume of 651,355. The firm has a market cap of $7,970.00, a price-to-earnings ratio of -24.55 and a beta of 3.07. SAGE Therapeutics has a 52-week low of $59.57 and a 52-week high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.98) by $0.23. During the same quarter last year, the business posted ($1.50) EPS. research analysts predict that SAGE Therapeutics will post -8.34 earnings per share for the current year.
In related news, CEO Jeffrey M. Jonas sold 210,247 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $157.45, for a total value of $33,103,390.15. Following the sale, the chief executive officer now owns 211,473 shares of the company’s stock, valued at $33,296,423.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Kanes sold 44,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the completion of the sale, the insider now directly owns 46,348 shares in the company, valued at approximately $8,211,938.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,386 shares of company stock worth $50,899,218. Insiders own 6.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SAGE. Bank of New York Mellon Corp increased its stake in SAGE Therapeutics by 36.5% in the third quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock valued at $168,834,000 after acquiring an additional 724,494 shares during the period. BlackRock Inc. increased its stake in SAGE Therapeutics by 16.4% in the fourth quarter. BlackRock Inc. now owns 3,444,171 shares of the biopharmaceutical company’s stock valued at $567,290,000 after acquiring an additional 486,135 shares during the period. Carillon Tower Advisers Inc. bought a new stake in SAGE Therapeutics during the fourth quarter worth about $74,300,000. Farallon Capital Management LLC grew its stake in SAGE Therapeutics by 64.3% during the fourth quarter. Farallon Capital Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $65,884,000 after buying an additional 156,500 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in SAGE Therapeutics by 258.0% during the third quarter. New York State Common Retirement Fund now owns 149,564 shares of the biopharmaceutical company’s stock worth $9,318,000 after buying an additional 107,782 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.
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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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