BMO Capital Markets Reiterates “Outperform” Rating for Sage Therapeutics, Inc. (SAGE)
Sage Therapeutics, Inc. (NASDAQ:SAGE)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a report released on Friday. They presently have a $112.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $85.67. BMO Capital Markets’ price objective would suggest a potential upside of 30.72% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity decreased their price target on shares of Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, September 12th. Stifel Nicolaus started coverage on shares of Sage Therapeutics in a research note on Wednesday, August 9th. They set a “buy” rating and a $104.00 price target for the company. Needham & Company LLC set a $95.00 target price on shares of Sage Therapeutics and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub cut shares of Sage Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation decreased their target price on shares of Sage Therapeutics from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Sage Therapeutics currently has a consensus rating of “Buy” and an average price target of $105.71.
Shares of Sage Therapeutics (NASDAQ:SAGE) opened at $85.68 on Friday. Sage Therapeutics has a fifty-two week low of $44.55 and a fifty-two week high of $99.80.
Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($1.98) by $0.01. The company’s quarterly revenue was up .0% compared to the same quarter last year. sell-side analysts anticipate that Sage Therapeutics will post -7.38 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of SAGE. Bank of New York Mellon Corp raised its stake in Sage Therapeutics by 36.5% during the third quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock worth $168,834,000 after acquiring an additional 724,494 shares in the last quarter. BlackRock Inc. raised its stake in Sage Therapeutics by 5.9% during the second quarter. BlackRock Inc. now owns 3,031,548 shares of the biopharmaceutical company’s stock worth $241,431,000 after acquiring an additional 168,424 shares in the last quarter. New York State Common Retirement Fund raised 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 acquiring an additional 107,782 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Sage Therapeutics during the second quarter worth about $7,964,000. Finally, Pioneer Investment Management Inc. raised its stake in Sage Therapeutics by 126.9% during the second quarter. Pioneer Investment Management Inc. now owns 158,418 shares of the biopharmaceutical company’s stock worth $12,616,000 after acquiring an additional 88,585 shares in the last quarter.
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.
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