Oppenheimer began coverage on shares of SAGE Therapeutics (NASDAQ:SAGE) in a report published on Wednesday. The brokerage issued a buy rating and a $170.00 target price on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for SAGE Therapeutics’ Q3 2018 earnings at ($2.40) EPS, Q4 2018 earnings at ($2.41) EPS, FY2018 earnings at ($6.74) EPS, Q1 2019 earnings at ($2.55) EPS, Q2 2019 earnings at ($2.70) EPS, Q3 2019 earnings at ($2.45) EPS, Q4 2019 earnings at ($2.26) EPS, FY2019 earnings at ($9.95) EPS, FY2020 earnings at ($8.09) EPS, FY2021 earnings at ($4.82) EPS and FY2022 earnings at $1.30 EPS.

SAGE has been the topic of several other reports. BidaskClub lowered SAGE Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, June 19th. Canaccord Genuity set a $220.00 price target on SAGE Therapeutics and gave the company a buy rating in a research report on Wednesday, August 8th. Morgan Stanley upped their price target on SAGE Therapeutics from $228.00 to $230.00 and gave the company an overweight rating in a research report on Thursday, October 11th. Piper Jaffray Companies initiated coverage on SAGE Therapeutics in a research note on Monday, August 6th. They issued an overweight rating and a $206.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on SAGE Therapeutics from $198.00 to $239.00 and gave the company a buy rating in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. SAGE Therapeutics has a consensus rating of Buy and an average target price of $204.50.

NASDAQ:SAGE opened at $122.32 on Wednesday. The firm has a market cap of $5.78 billion, a P/E ratio of -17.25 and a beta of 2.92. SAGE Therapeutics has a 1-year low of $59.57 and a 1-year high of $195.97.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($1.84) by $1.48. The business had revenue of $90.00 million for the quarter. Equities analysts predict that SAGE Therapeutics will post -7.32 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in SAGE Therapeutics by 1.6% in the second quarter. FMR LLC now owns 6,977,378 shares of the biopharmaceutical company’s stock valued at $1,092,169,000 after purchasing an additional 110,687 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of SAGE Therapeutics by 2.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,598,167 shares of the biopharmaceutical company’s stock worth $250,162,000 after acquiring an additional 34,389 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SAGE Therapeutics by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,564,548 shares of the biopharmaceutical company’s stock worth $244,898,000 after acquiring an additional 110,134 shares in the last quarter. BB Biotech AG boosted its stake in shares of SAGE Therapeutics by 6.9% during the 2nd quarter. BB Biotech AG now owns 1,071,373 shares of the biopharmaceutical company’s stock worth $167,702,000 after acquiring an additional 68,934 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of SAGE Therapeutics by 1.8% during the 2nd quarter. Jennison Associates LLC now owns 805,361 shares of the biopharmaceutical company’s stock worth $126,063,000 after acquiring an additional 14,338 shares in the last quarter.

SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).

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