Sage Therapeutics’ (NASDAQ:SAGE) “Buy” Rating Reaffirmed at Cowen and Company
Cowen and Company reissued their buy rating on shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in a report released on Friday. Cowen and Company currently has a $100.00 price target on the biopharmaceutical company’s stock.
Several other equities analysts have also recently issued reports on the company. Canaccord Genuity set a $110.00 target price on Sage Therapeutics and gave the stock a buy rating in a research report on Wednesday, April 12th. Leerink Swann reiterated an outperform rating and set a $97.00 target price (up previously from $90.00) on shares of Sage Therapeutics in a research report on Tuesday, June 20th. Needham & Company LLC reiterated a buy rating and set a $82.00 target price on shares of Sage Therapeutics in a research report on Tuesday, June 13th. BidaskClub cut Sage Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus reiterated a buy rating and set a $90.00 target price on shares of Sage Therapeutics in a research report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $88.36.
Shares of Sage Therapeutics (NASDAQ SAGE) traded up 10.97% during mid-day trading on Friday, reaching $87.00. The company’s stock had a trading volume of 1,099,824 shares. Sage Therapeutics has a 1-year low of $35.02 and a 1-year high of $89.49. The company’s market capitalization is $3.25 billion. The company’s 50 day moving average price is $81.06 and its 200-day moving average price is $68.74.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by $0.25. During the same quarter in the previous year, the firm earned ($1.08) earnings per share. Analysts predict that Sage Therapeutics will post ($6.76) earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Sage Therapeutics during the fourth quarter worth $538,000. Norges Bank purchased a new stake in Sage Therapeutics during the fourth quarter worth $12,452,000. Teachers Advisors LLC boosted its stake in Sage Therapeutics by 15.0% in the fourth quarter. Teachers Advisors LLC now owns 49,296 shares of the biopharmaceutical company’s stock worth $2,517,000 after buying an additional 6,419 shares in the last quarter. Bank of Montreal Can boosted its stake in Sage Therapeutics by 7,004.1% in the first quarter. Bank of Montreal Can now owns 12,006 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 11,837 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Sage Therapeutics during the first quarter worth $398,000.
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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