SAGE Therapeutics (SAGE) Downgraded by BidaskClub

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SAGE Therapeutics (NASDAQ:SAGE) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.

SAGE has been the topic of a number of other research reports. Canaccord Genuity restated a “buy” rating and issued a $210.00 price target on shares of SAGE Therapeutics in a research note on Monday, March 26th. SunTrust Banks increased their price target on SAGE Therapeutics to $203.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley began coverage on SAGE Therapeutics in a research note on Monday, February 26th. They issued an “overweight” rating and a $225.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $193.00 price target on shares of SAGE Therapeutics in a research note on Friday, February 23rd. Finally, LADENBURG THALM/SH SH began coverage on SAGE Therapeutics in a research note on Wednesday, June 6th. They issued a “buy” rating and a $230.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SAGE Therapeutics has a consensus rating of “Buy” and a consensus price target of $188.94.

Shares of SAGE Therapeutics traded up $2.50, reaching $165.29, on Tuesday, Marketbeat.com reports. 5,598 shares of the company were exchanged, compared to its average volume of 507,312. SAGE Therapeutics has a one year low of $59.57 and a one year high of $195.97. The stock has a market cap of $7.67 billion, a P/E ratio of -23.20 and a beta of 3.04.

SAGE Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($1.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.16. During the same period in the prior year, the firm posted ($1.52) EPS. analysts forecast that SAGE Therapeutics will post -8.52 earnings per share for the current fiscal year.

In other SAGE Therapeutics news, Director Kevin P. Starr sold 59,000 shares of the company’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $168.85, for a total value of $9,962,150.00. Following the transaction, the director now directly owns 326,817 shares of the company’s stock, valued at approximately $55,183,050.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kimi Iguchi sold 28,153 shares of the company’s stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $142.73, for a total value of $4,018,277.69. Following the completion of the transaction, the chief financial officer now directly owns 63,499 shares in the company, valued at $9,063,212.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,288 shares of company stock worth $16,811,692. Insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of SAGE Therapeutics by 9.6% during the 1st quarter. BlackRock Inc. now owns 3,774,283 shares of the biopharmaceutical company’s stock worth $607,923,000 after purchasing an additional 330,112 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of SAGE Therapeutics by 5.7% during the 1st quarter. OppenheimerFunds Inc. now owns 1,563,778 shares of the biopharmaceutical company’s stock worth $251,876,000 after purchasing an additional 84,247 shares in the last quarter. Palo Alto Investors LP grew its holdings in shares of SAGE Therapeutics by 0.9% during the 1st quarter. Palo Alto Investors LP now owns 818,331 shares of the biopharmaceutical company’s stock worth $131,809,000 after purchasing an additional 7,525 shares in the last quarter. Palo Alto Investors LLC grew its holdings in shares of SAGE Therapeutics by 3.0% during the 4th quarter. Palo Alto Investors LLC now owns 810,806 shares of the biopharmaceutical company’s stock worth $133,548,000 after purchasing an additional 23,555 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of SAGE Therapeutics by 10.6% during the 4th quarter. Franklin Resources Inc. now owns 524,590 shares of the biopharmaceutical company’s stock worth $86,405,000 after purchasing an additional 50,254 shares in the last quarter.

SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).

Analyst Recommendations for SAGE Therapeutics (NASDAQ:SAGE)

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