Needham & Company LLC Raises Sage Therapeutics (NASDAQ:SAGE) Price Target to $100.00

Sage Therapeutics (NASDAQ:SAGE) had its target price upped by Needham & Company LLC from $86.00 to $100.00 in a research note published on Friday, November 10th, MarketBeat reports. They currently have a buy rating on the biopharmaceutical company’s stock.

SAGE has been the topic of a number of other reports. Stifel Nicolaus reissued a buy rating and set a $91.00 price target (down from $104.00) on shares of Sage Therapeutics in a report on Wednesday, September 13th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Sage Therapeutics in a report on Thursday, August 31st. BMO Capital Markets reaffirmed a buy rating and set a $80.00 price objective on shares of Sage Therapeutics in a report on Friday, October 27th. Cowen reaffirmed a buy rating and set a $100.00 price objective on shares of Sage Therapeutics in a report on Friday, August 4th. Finally, Goldman Sachs Group reiterated a buy rating and issued a $87.00 target price on shares of Sage Therapeutics in a research report on Friday, October 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $105.14.

Shares of Sage Therapeutics (NASDAQ:SAGE) traded down $1.86 during trading on Friday, reaching $94.15. 453,600 shares of the company’s stock were exchanged, compared to its average volume of 549,586. Sage Therapeutics has a twelve month low of $44.55 and a twelve month high of $100.50.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($1.98) by $0.01. The business’s revenue for the quarter was up .0% on a year-over-year basis. equities research analysts expect that Sage Therapeutics will post -7.38 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Sage Therapeutics by 5.9% in the second quarter. BlackRock Inc. now owns 3,031,548 shares of the biopharmaceutical company’s stock valued at $241,431,000 after purchasing an additional 168,424 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sage Therapeutics by 2.2% in the second quarter. Vanguard Group Inc. now owns 2,749,954 shares of the biopharmaceutical company’s stock valued at $219,006,000 after purchasing an additional 58,679 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Sage Therapeutics by 36.5% in the third quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock valued at $168,834,000 after purchasing an additional 724,494 shares during the period. State Street Corp boosted its stake in shares of Sage Therapeutics by 7.7% in the second quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock valued at $96,558,000 after purchasing an additional 87,097 shares during the period. Finally, Oak Ridge Investments LLC lifted its stake in Sage Therapeutics by 0.9% in the third quarter. Oak Ridge Investments LLC now owns 736,709 shares of the biopharmaceutical company’s stock worth $45,897,000 after acquiring an additional 6,835 shares during the last quarter. 95.40% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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