Royal Bank Of Canada Reaffirms “Buy” Rating for Sage Therapeutics, Inc. (SAGE)
Sage Therapeutics, Inc. (NASDAQ:SAGE)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued on Wednesday. They currently have a $117.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 84.78% from the stock’s previous close.
Several other research analysts have also recently weighed in on the company. J P Morgan Chase & Co decreased their price target on Sage Therapeutics from $99.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. Leerink Swann restated an “outperform” rating and issued a $97.00 price target (up previously from $90.00) on shares of Sage Therapeutics in a research note on Tuesday, June 20th. Stifel Nicolaus restated a “buy” rating and issued a $90.00 price target on shares of Sage Therapeutics in a research note on Friday, July 14th. Canaccord Genuity decreased their price target on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, September 12th. Finally, BidaskClub cut Sage Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Sage Therapeutics presently has an average rating of “Buy” and an average price target of $86.79.
Sage Therapeutics (NASDAQ:SAGE) traded down 1.224% during midday trading on Wednesday, reaching $62.545. The company had a trading volume of 67,014 shares. The company has a 50-day moving average of $69.94 and a 200-day moving average of $74.43. The stock’s market capitalization is $2.34 billion. Sage Therapeutics has a 12-month low of $38.30 and a 12-month high of $90.80.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.25). During the same period in the previous year, the firm posted ($1.08) earnings per share. On average, analysts predict that Sage Therapeutics will post ($7.40) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in SAGE. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sage Therapeutics by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 138 shares during the period. Turner Investments LLC bought a new stake in Sage Therapeutics during the second quarter valued at about $159,000. Dubuque Bank & Trust Co. bought a new stake in Sage Therapeutics during the second quarter valued at about $167,000. Canada Pension Plan Investment Board bought a new stake in Sage Therapeutics during the second quarter valued at about $175,000. Finally, Teacher Retirement System of Texas bought a new stake in Sage Therapeutics during the second quarter valued at about $202,000.
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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