Sage Therapeutics (SAGE) Given New $193.00 Price Target at Needham & Company LLC
Sage Therapeutics (NASDAQ:SAGE) had its price target hoisted by equities research analysts at Needham & Company LLC from $100.00 to $193.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price indicates a potential upside of 23.50% from the company’s current price.
A number of other equities research analysts also recently commented on SAGE. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $198.00 price objective on shares of Sage Therapeutics in a report on Friday. BMO Capital Markets reiterated an “outperform” rating and issued a $203.00 price objective on shares of Sage Therapeutics in a report on Thursday. Leerink Swann upped their price objective on Sage Therapeutics from $123.00 to $246.00 in a report on Thursday. Stifel Nicolaus began coverage on Sage Therapeutics in a research note on Wednesday, August 9th. They issued a “buy” rating and a $104.00 target price for the company. Finally, BidaskClub cut Sage Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve 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 $164.57.
Sage Therapeutics (NASDAQ:SAGE) traded up $64.37 during midday trading on Thursday, reaching $156.27. The company had a trading volume of 8,435,000 shares, compared to its average volume of 582,206. Sage Therapeutics has a fifty-two week low of $44.55 and a fifty-two week high of $169.58.
Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating analysts’ consensus estimates of ($1.98) by $0.01. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. equities analysts expect that Sage Therapeutics will post -7.4 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of SAGE. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sage Therapeutics by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 138 shares during the period. Hershey Trust Co. acquired a new position in shares of Sage Therapeutics during the third quarter worth about $118,000. Oppenheimer Asset Management Inc. boosted its position in shares of Sage Therapeutics by 412.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 1,565 shares during the period. Bessemer Group Inc. acquired a new position in shares of Sage Therapeutics during the third quarter worth about $141,000. Finally, Turner Investments LLC acquired a new position in shares of Sage Therapeutics during the second quarter worth about $159,000. 95.40% of the stock is owned by institutional investors.
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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