SAGE Therapeutics (NASDAQ:SAGE) was upgraded by analysts at Leerink Swann from an “underperform” rating to a “market perform” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $63.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price objective suggests a potential downside of 2.26% from the company’s current price.
Several other brokerages also recently commented on SAGE. Wedbush dropped their target price on SAGE Therapeutics from $203.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday. SunTrust Banks cut SAGE Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $70.00 in a report on Thursday. Goldman Sachs Group decreased their price target on SAGE Therapeutics from $227.00 to $263.00 in a report on Thursday. Royal Bank of Canada downgraded shares of SAGE Therapeutics from an “outperform” rating to a “sector perform” rating and set a $73.00 price objective for the company. in a research report on Thursday. Finally, Guggenheim dropped their price objective on shares of SAGE Therapeutics from $200.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $128.81.
NASDAQ:SAGE opened at $64.46 on Friday. The business’s 50-day moving average is $142.30 and its two-hundred day moving average is $160.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 12.67 and a quick ratio of 12.67. SAGE Therapeutics has a 12 month low of $56.50 and a 12 month high of $193.56.
Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of SAGE Therapeutics by 197.2% in the 2nd quarter. Invesco Ltd. now owns 2,021,964 shares of the biopharmaceutical company’s stock valued at $370,201,000 after purchasing an additional 1,341,720 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of SAGE Therapeutics during the second quarter worth approximately $113,776,000. Jennison Associates LLC grew its position in shares of SAGE Therapeutics by 25.4% during the second quarter. Jennison Associates LLC now owns 2,953,913 shares of the biopharmaceutical company’s stock worth $540,832,000 after buying an additional 598,299 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of SAGE Therapeutics by 12.3% in the second quarter. Janus Henderson Group PLC now owns 1,873,408 shares of the biopharmaceutical company’s stock worth $343,002,000 after buying an additional 204,779 shares during the last quarter. Finally, State Street Corp increased its stake in shares of SAGE Therapeutics by 8.8% in the third quarter. State Street Corp now owns 1,039,599 shares of the biopharmaceutical company’s stock worth $145,845,000 after buying an additional 84,138 shares during the last quarter.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
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