SAGE Therapeutics (SAGE) Downgraded by ValuEngine

ValuEngine downgraded shares of SAGE Therapeutics (NASDAQ:SAGE) from a strong-buy rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

SAGE has been the subject of several other reports. BidaskClub cut shares of SAGE Therapeutics from a hold rating to a sell rating in a research note on Wednesday, January 30th. Guggenheim initiated coverage on shares of SAGE Therapeutics in a research note on Friday, February 22nd. They issued a buy rating and a $205.00 target price for the company. Morgan Stanley decreased their target price on shares of SAGE Therapeutics from $230.00 to $213.00 and set an overweight rating for the company in a research note on Wednesday, December 19th. Finally, Canaccord Genuity set a $220.00 target price on shares of SAGE Therapeutics and gave the company a buy rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the stock. SAGE Therapeutics presently has an average rating of Buy and a consensus price target of $201.45.

NASDAQ:SAGE opened at $164.73 on Thursday. SAGE Therapeutics has a 1-year low of $79.88 and a 1-year high of $177.14.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, February 19th. The biopharmaceutical company reported ($3.38) earnings per share for the quarter, missing the consensus estimate of ($2.89) by ($0.49). The company had revenue of $0.27 million for the quarter. During the same period in the previous year, the firm earned ($1.75) earnings per share. Sell-side analysts forecast that SAGE Therapeutics will post -12.58 EPS for the current fiscal year.

In other SAGE Therapeutics news, Director James M. Frates sold 7,500 shares of the firm’s stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $134.81, for a total transaction of $1,011,075.00. Following the completion of the sale, the director now owns 11,735 shares of the company’s stock, valued at approximately $1,581,995.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Kanes sold 22,948 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $150.00, for a total value of $3,442,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 175,811 shares of company stock valued at $27,771,729 in the last ninety days. Insiders own 5.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. RTW Investments LP acquired a new stake in SAGE Therapeutics during the 4th quarter valued at $15,900,000. Dimensional Fund Advisors LP lifted its holdings in shares of SAGE Therapeutics by 40.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 109,054 shares of the biopharmaceutical company’s stock worth $10,441,000 after buying an additional 31,571 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of SAGE Therapeutics by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 62,600 shares of the biopharmaceutical company’s stock worth $5,996,000 after buying an additional 2,055 shares in the last quarter. Partner Investment Management L.P. acquired a new stake in shares of SAGE Therapeutics during the fourth quarter worth $592,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of SAGE Therapeutics by 9.5% during the third quarter. Mackenzie Financial Corp now owns 17,175 shares of the biopharmaceutical company’s stock worth $2,426,000 after buying an additional 1,486 shares in the last quarter.

About SAGE Therapeutics

SAGE Therapeutics, Inc operates as clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

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