SAGE Therapeutics Inc (NASDAQ:SAGE) Given Average Rating of “Buy” by Brokerages

Shares of SAGE Therapeutics Inc (NASDAQ:SAGE) have earned a consensus rating of “Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $121.19.

SAGE has been the topic of several analyst reports. Svb Leerink upgraded SAGE Therapeutics from an “underperform” rating to a “market perform” rating in a report on Friday, December 6th. Guggenheim dropped their price objective on SAGE Therapeutics from $200.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Morgan Stanley dropped their price objective on SAGE Therapeutics from $217.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Oppenheimer dropped their price objective on SAGE Therapeutics from $190.00 to $100.00 in a report on Friday, December 6th. Finally, BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of SAGE Therapeutics in a report on Friday, December 6th.

In other news, CEO Jeffrey M. Jonas bought 7,500 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was bought at an average price of $64.20 per share, for a total transaction of $481,500.00. Following the transaction, the chief executive officer now owns 54,530 shares in the company, valued at $3,500,826. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Albert Robichaud bought 25,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of $64.16 per share, with a total value of $1,604,000.00. Following the transaction, the insider now owns 102,592 shares in the company, valued at approximately $6,582,302.72. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Man Group plc grew its position in shares of SAGE Therapeutics by 650.9% in the 3rd quarter. Man Group plc now owns 16,279 shares of the biopharmaceutical company’s stock worth $2,284,000 after acquiring an additional 14,111 shares in the last quarter. BlackRock Inc. grew its position in shares of SAGE Therapeutics by 2.8% in the 2nd quarter. BlackRock Inc. now owns 2,748,713 shares of the biopharmaceutical company’s stock worth $503,261,000 after acquiring an additional 75,246 shares in the last quarter. Castleark Management LLC grew its position in shares of SAGE Therapeutics by 45.4% in the 3rd quarter. Castleark Management LLC now owns 10,745 shares of the biopharmaceutical company’s stock worth $1,507,000 after acquiring an additional 3,355 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in shares of SAGE Therapeutics in the 2nd quarter worth approximately $404,000. Finally, California Public Employees Retirement System grew its position in shares of SAGE Therapeutics by 55.8% in the 3rd quarter. California Public Employees Retirement System now owns 93,788 shares of the biopharmaceutical company’s stock worth $13,158,000 after acquiring an additional 33,588 shares in the last quarter.

Shares of NASDAQ:SAGE traded up $2.31 during mid-day trading on Tuesday, hitting $76.40. 1,285,788 shares of the company traded hands, compared to its average volume of 802,513. The company has a debt-to-equity ratio of 0.03, a quick ratio of 12.67 and a current ratio of 12.67. SAGE Therapeutics has a 52-week low of $56.50 and a 52-week high of $193.56. The firm’s 50 day simple moving average is $82.17 and its 200 day simple moving average is $139.30.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($3.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.41) by ($0.07). SAGE Therapeutics had a negative return on equity of 60.00% and a negative net margin of 12,931.34%. The business had revenue of $3.57 million for the quarter, compared to analysts’ expectations of $2.52 million. During the same quarter in the prior year, the firm earned ($2.63) earnings per share. SAGE Therapeutics’s revenue for the quarter was up 35600.0% compared to the same quarter last year. On average, sell-side analysts forecast that SAGE Therapeutics will post -13.78 earnings per share for the current fiscal year.

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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Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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