SAGE Therapeutics (SAGE) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of SAGE Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a report published on Monday.

SAGE has been the subject of a number of other research reports. Cowen reaffirmed a buy rating and issued a $202.00 price target on shares of SAGE Therapeutics in a report on Tuesday, March 20th. ValuEngine raised shares of SAGE Therapeutics from a hold rating to a buy rating in a report on Monday, April 2nd. Morgan Stanley started coverage on shares of SAGE Therapeutics in a report on Monday, February 26th. They issued an overweight rating and a $225.00 price target for the company. SunTrust Banks increased their price target on shares of SAGE Therapeutics to $203.00 and gave the company a buy rating in a report on Wednesday, February 28th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $210.00 price target on shares of SAGE Therapeutics in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $185.20.

Shares of SAGE Therapeutics opened at $165.56 on Monday, MarketBeat.com reports. SAGE Therapeutics has a 12 month low of $173.39 and a 12 month high of $176.65.

SAGE Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($1.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.84) by $0.16. During the same quarter in the prior year, the company posted ($1.52) earnings per share. sell-side analysts expect that SAGE Therapeutics will post -8.26 EPS for the current fiscal year.

In other news, Director Kevin P. Starr sold 59,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $168.85, for a total transaction of $9,962,150.00. Following the transaction, the director now directly owns 326,817 shares of the company’s stock, valued at $55,183,050.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven M. Paul sold 58,139 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $172.00, for a total transaction of $9,999,908.00. Following the transaction, the director now directly owns 632,712 shares in the company, valued at $108,826,464. The disclosure for this sale can be found here. Insiders sold a total of 164,427 shares of company stock worth $26,811,600 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Two Sigma Advisers LP purchased a new position in shares of SAGE Therapeutics during the fourth quarter worth approximately $2,125,000. Xact Kapitalforvaltning AB purchased a new position in shares of SAGE Therapeutics during the fourth quarter worth approximately $600,000. California State Teachers Retirement System increased its position in shares of SAGE Therapeutics by 7.8% during the fourth quarter. California State Teachers Retirement System now owns 59,635 shares of the biopharmaceutical company’s stock worth $9,822,000 after acquiring an additional 4,306 shares during the period. HBK Investments L P purchased a new position in shares of SAGE Therapeutics during the fourth quarter worth approximately $2,800,000. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of SAGE Therapeutics by 3.4% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 15,038 shares of the biopharmaceutical company’s stock worth $2,476,000 after acquiring an additional 500 shares during the period. 95.31% of the stock is currently owned by institutional investors and hedge funds.

About SAGE Therapeutics

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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