SAGE Therapeutics (NASDAQ:SAGE)‘s stock had its “buy” rating restated by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, January 10th.
A number of other brokerages also recently weighed in on SAGE. SunTrust Banks raised their target price on shares of SAGE Therapeutics to $178.00 and gave the company a “positive” rating in a research note on Friday, December 8th. Canaccord Genuity decreased their target price 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. Bank of America 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, November 16th. Cowen reissued a “buy” rating on shares of SAGE Therapeutics in a research report on Monday, December 11th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $117.00 price target on shares of SAGE Therapeutics in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $171.21.
SAGE Therapeutics (NASDAQ SAGE) traded up $2.75 during trading on Wednesday, hitting $169.46. 369,084 shares of the stock were exchanged, compared to its average volume of 527,495. SAGE Therapeutics has a one year low of $44.55 and a one year high of $180.83. The stock has a market capitalization of $6,957.01, a price-to-earnings ratio of -24.67 and a beta of 3.06.
SAGE Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.98) by $0.01. The company’s revenue for the quarter was up .0% compared to the same quarter last year. equities research analysts forecast that SAGE Therapeutics will post -7.42 EPS for the current year.
In related news, insider Stephen Kanes sold 44,000 shares of SAGE Therapeutics stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the transaction, the insider now owns 46,348 shares in the company, valued at approximately $8,211,938.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Albert Robichaud sold 60,000 shares of SAGE Therapeutics stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $159.43, for a total transaction of $9,565,800.00. Following the completion of the sale, the insider now owns 152,759 shares in the company, valued at $24,354,367.37. The disclosure for this sale can be found here. Insiders have sold a total of 314,247 shares of company stock worth $50,465,110 in the last quarter. Corporate insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SAGE Therapeutics by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 138 shares during the last quarter. Hershey Trust Co. bought a new stake in shares of SAGE Therapeutics in the 3rd quarter worth about $118,000. Oppenheimer Asset Management Inc. increased its holdings in shares of SAGE Therapeutics by 412.9% in the 3rd 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 last quarter. Bessemer Group Inc. bought a new stake in shares of SAGE Therapeutics in the 3rd quarter worth about $141,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of SAGE Therapeutics by 70.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 1,204 shares during the last quarter. Institutional investors own 95.33% of the company’s stock.
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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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