Canaccord Genuity Reiterates “Buy” Rating for SAGE Therapeutics (SAGE)

SAGE Therapeutics (NASDAQ:SAGE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $220.00 target price on the biopharmaceutical company’s stock. Canaccord Genuity’s target price points to a potential upside of 29.78% from the company’s current price.

Several other research firms have also recently commented on SAGE. BidaskClub upgraded SAGE Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Cowen restated a “buy” rating and set a $202.00 price target on shares of SAGE Therapeutics in a research note on Tuesday, March 20th. Morgan Stanley began coverage on SAGE Therapeutics in a research note on Monday, February 26th. They set an “overweight” rating and a $225.00 price target for the company. SunTrust Banks upped their price target on SAGE Therapeutics to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $193.00 price target on shares of SAGE Therapeutics in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $188.63.

SAGE Therapeutics traded down $6.24, reaching $169.52, on Tuesday, according to Marketbeat Ratings. The stock had a trading volume of 1,078,500 shares, compared to its average volume of 534,766. SAGE Therapeutics has a 12-month low of $59.57 and a 12-month high of $195.97. The stock has a market cap of $6.83 billion, a P/E ratio of -23.91 and a beta of 3.04.

SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($1.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.84) by $0.16. During the same period in the previous year, the firm posted ($1.52) EPS. equities analysts predict that SAGE Therapeutics will post -8.42 EPS for the current year.

In other SAGE Therapeutics news, CFO Kimi Iguchi sold 12,135 shares of the stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $144.48, for a total value of $1,753,264.80. Following the completion of the transaction, the chief financial officer now owns 63,499 shares in the company, valued at $9,174,335.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin P. Starr sold 59,000 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $168.85, for a total value of $9,962,150.00. Following the completion of the transaction, the director now owns 326,817 shares of the company’s stock, valued at approximately $55,183,050.45. The disclosure for this sale can be found here. Insiders sold 106,288 shares of company stock valued at $16,811,692 in the last quarter. 5.10% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in SAGE Therapeutics by 9.5% in the first quarter. Prudential Financial Inc. now owns 4,220 shares of the biopharmaceutical company’s stock worth $680,000 after acquiring an additional 366 shares in the last quarter. Principal Financial Group Inc. raised its position in SAGE Therapeutics by 3.2% in the first quarter. Principal Financial Group Inc. now owns 12,406 shares of the biopharmaceutical company’s stock worth $1,998,000 after acquiring an additional 382 shares in the last quarter. Raymond James & Associates raised its position in SAGE Therapeutics by 2.9% in the fourth quarter. Raymond James & Associates now owns 14,581 shares of the biopharmaceutical company’s stock worth $2,402,000 after acquiring an additional 414 shares in the last quarter. Neuberger Berman Group LLC raised its position in SAGE Therapeutics by 15.3% in the first quarter. Neuberger Berman Group LLC now owns 3,459 shares of the biopharmaceutical company’s stock worth $557,000 after acquiring an additional 459 shares in the last quarter. Finally, Amalgamated Bank raised its position in SAGE Therapeutics by 9.2% in the first quarter. Amalgamated Bank now owns 5,623 shares of the biopharmaceutical company’s stock worth $906,000 after acquiring an additional 476 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).

Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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