SAGE Therapeutics Inc (SAGE) Receives $175.75 Consensus Target Price from Brokerages

Shares of SAGE Therapeutics Inc (NASDAQ:SAGE) have been given an average rating of “Buy” by the sixteen analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $175.75.

Several brokerages have recently weighed in on SAGE. BidaskClub cut SAGE Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $112.00 price target (up from $85.67) on shares of SAGE Therapeutics in a research report on Friday, November 17th. Needham & Company LLC lifted their price target on SAGE Therapeutics from $100.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Raymond James Financial lifted their price target on SAGE Therapeutics to $109.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $198.00 price target on shares of SAGE Therapeutics in a research report on Friday, December 8th.

In related news, insider Stephen Kanes sold 44,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the completion of the transaction, the insider now directly owns 46,348 shares in the company, valued at $8,211,938.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey M. Jonas sold 210,247 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $157.45, for a total value of $33,103,390.15. Following the transaction, the chief executive officer now owns 211,473 shares of the company’s stock, valued at $33,296,423.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,247 shares of company stock valued at $50,465,110. 6.10% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Hershey Trust Co. purchased a new position in shares of SAGE Therapeutics in the 3rd quarter worth about $118,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of SAGE Therapeutics by 412.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 1,565 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of SAGE Therapeutics in the 3rd quarter worth about $141,000. Fortaleza Asset Management Inc. purchased a new position in shares of SAGE Therapeutics in the 4th quarter worth about $167,000. Finally, First Mercantile Trust Co. purchased a new position in shares of SAGE Therapeutics in the 4th quarter worth about $169,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Shares of SAGE Therapeutics (NASDAQ SAGE) traded down $0.53 during midday trading on Tuesday, hitting $163.60. The stock had a trading volume of 649,100 shares, compared to its average volume of 658,175. The stock has a market capitalization of $6,580.00, a PE ratio of -23.33 and a beta of 2.97. SAGE Therapeutics has a one year low of $59.50 and a one year high of $195.97.

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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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