Bank of America Corporation started coverage on shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in a research report released on Friday, May 12th, MarketBeat.com reports. The firm issued a buy rating and a $85.00 target price on the biopharmaceutical company’s stock.
Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity reaffirmed a buy rating and set a $110.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, May 10th. J P Morgan Chase & Co reaffirmed a buy rating and set a $83.00 price objective on shares of Sage Therapeutics in a research report on Monday, April 3rd. Cowen and Company reaffirmed a buy rating and set a $95.00 price objective on shares of Sage Therapeutics in a research report on Monday, February 13th. BMO Capital Markets set a $68.00 target price on Sage Therapeutics and gave the stock a buy rating in a research note on Monday, February 13th. Finally, Chardan Capital raised Sage Therapeutics from a sell rating to a neutral rating and set a $60.00 target price for the company in a research note on Tuesday, February 14th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $78.92.
Sage Therapeutics (NASDAQ:SAGE) traded up 3.32% during midday trading on Friday, hitting $79.71. 706,776 shares of the stock traded hands. The stock’s market cap is $2.98 billion. Sage Therapeutics has a 1-year low of $26.55 and a 1-year high of $80.30. The company has a 50-day moving average of $70.20 and a 200-day moving average of $61.67.
Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.61) by $0.09. On average, equities analysts expect that Sage Therapeutics will post ($6.70) EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Sage Therapeutics during the first quarter valued at $180,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sage Therapeutics during the first quarter valued at $202,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Sage Therapeutics during the first quarter valued at $205,000. Jane Street Group LLC purchased a new stake in shares of Sage Therapeutics during the first quarter valued at $208,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Sage Therapeutics during the first quarter valued at approximately $213,000.
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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