Royal Bank Of Canada started coverage on shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in a research report sent to investors on Thursday morning. The brokerage issued an outperform rating and a $117.00 price objective on the biopharmaceutical company’s stock.
SAGE has been the subject of several other research reports. BidaskClub downgraded Sage Therapeutics from a buy rating to a hold rating in a research note on Wednesday, August 23rd. J P Morgan Chase & Co cut their price target on Sage Therapeutics from $99.00 to $85.00 and set an overweight rating for the company in a research note on Tuesday. Chardan Capital reaffirmed a hold rating on shares of Sage Therapeutics in a research note on Wednesday. ValuEngine raised Sage Therapeutics from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Cowen and Company started coverage on Sage Therapeutics in a research note on Monday, June 12th. They set an outperform rating and a $95.00 price target for the company. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $86.77.
Sage Therapeutics (NASDAQ:SAGE) traded down 4.01% during midday trading on Thursday, hitting $62.25. 941,641 shares of the stock were exchanged. The stock’s market cap is $2.33 billion. Sage Therapeutics has a one year low of $38.30 and a one year high of $90.80. The firm has a 50-day moving average price of $81.85 and a 200-day moving average price of $74.87.
Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.25). During the same period last year, the business earned ($1.08) earnings per share. On average, equities research analysts anticipate that Sage Therapeutics will post ($7.38) EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of SAGE. BlackRock Inc. grew its holdings in Sage Therapeutics by 10,082.5% in the 1st quarter. BlackRock Inc. now owns 2,863,124 shares of the biopharmaceutical company’s stock valued at $203,482,000 after buying an additional 2,835,006 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Sage Therapeutics in the 1st quarter valued at about $35,493,000. Marshall Wace North America L.P. purchased a new stake in Sage Therapeutics in the 1st quarter valued at about $35,493,000. Point72 Asset Management L.P. grew its holdings in Sage Therapeutics by 512.9% in the 1st quarter. Point72 Asset Management L.P. now owns 395,300 shares of the biopharmaceutical company’s stock valued at $28,094,000 after buying an additional 330,800 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Sage Therapeutics by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,691,275 shares of the biopharmaceutical company’s stock valued at $191,269,000 after buying an additional 261,759 shares during the period.
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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