JPMorgan Chase & Co. Reaffirms Buy Rating for SAGE Therapeutics (NASDAQ:SAGE)

SAGE Therapeutics (NASDAQ:SAGE)‘s stock had its “buy” rating reissued by JPMorgan Chase & Co. in a note issued to investors on Wednesday, January 10th.

SAGE has been the topic of several other reports. Royal Bank of Canada boosted their target price on shares of SAGE Therapeutics from $117.00 to $120.00 in a research report on Thursday, November 2nd. Leerink Swann upped their price objective on shares of SAGE Therapeutics from $123.00 to $246.00 in a research note on Thursday, December 7th. Needham & Company LLC dropped their price objective on shares of SAGE Therapeutics from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and set a $91.00 target price (down previously from $104.00) on shares of SAGE Therapeutics in a research report on Wednesday, September 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $82.00 target price (down previously from $95.00) on shares of SAGE Therapeutics in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. SAGE Therapeutics has an average rating of “Buy” and a consensus target price of $171.21.

SAGE Therapeutics (SAGE) traded down $4.48 during mid-day trading on Wednesday, reaching $174.71. 239,193 shares of the company’s stock were exchanged, compared to its average volume of 517,329. SAGE Therapeutics has a 12 month low of $46.11 and a 12 month high of $195.97. The firm has a market capitalization of $7,668.08, a PE ratio of -26.08 and a beta of 2.98.

In related news, insider Stephen Kanes sold 44,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the sale, the insider now directly owns 46,348 shares of the company’s stock, valued at approximately $8,211,938.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Albert Robichaud sold 60,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $159.43, for a total value of $9,565,800.00. Following the completion of the sale, the insider now directly owns 152,759 shares in the company, valued at $24,354,367.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,247 shares of company stock valued at $50,465,110. Company insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SAGE. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SAGE Therapeutics by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 138 shares in the last quarter. Keybank National Association OH boosted its position in shares of SAGE Therapeutics by 10.6% in the 2nd quarter. Keybank National Association OH now owns 3,798 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 363 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of SAGE Therapeutics by 19.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,034 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 497 shares in the last quarter. Ameriprise Financial Inc. raised its stake in SAGE Therapeutics by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 59,336 shares of the biopharmaceutical company’s stock valued at $4,723,000 after purchasing an additional 552 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in SAGE Therapeutics by 5.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 12,742 shares of the biopharmaceutical company’s stock valued at $1,015,000 after purchasing an additional 686 shares during the last quarter. 95.01% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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