Sage Therapeutics (NASDAQ:SAGE) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a buy rating to a strong-buy rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on the company. Oppenheimer boosted their price target on Sage Therapeutics from $50.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday, August 11th. BMO Capital Markets boosted their price objective on Sage Therapeutics from $65.00 to $79.00 and gave the stock an outperform rating in a research report on Friday, October 16th. Wedbush raised Sage Therapeutics from a neutral rating to an outperform rating and boosted their price objective for the stock from $40.00 to $65.00 in a research report on Friday, September 11th. Royal Bank of Canada boosted their price objective on Sage Therapeutics from $75.00 to $84.00 and gave the stock an outperform rating in a research report on Tuesday, October 20th. Finally, Citigroup boosted their price objective on Sage Therapeutics from $54.00 to $67.00 and gave the stock a buy rating in a research report on Friday, September 11th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Sage Therapeutics has an average rating of Buy and a consensus target price of $84.05.

SAGE opened at $71.51 on Wednesday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -6.06 and a beta of 2.45. Sage Therapeutics has a 1 year low of $25.01 and a 1 year high of $155.33. The stock has a fifty day moving average price of $60.71 and a 200 day moving average price of $46.06.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported ($2.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.67) by $0.04. Sage Therapeutics had a negative return on equity of 64.54% and a negative net margin of 6,869.15%. The company had revenue of $1.09 million during the quarter, compared to analysts’ expectations of $0.88 million. During the same quarter in the previous year, the firm earned ($3.28) earnings per share. As a group, research analysts forecast that Sage Therapeutics will post -9.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SAGE. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Sage Therapeutics by 6.7% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,170 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 450 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Sage Therapeutics by 3,632.5% in the third quarter. Candriam Luxembourg S.C.A. now owns 149,300 shares of the biopharmaceutical company’s stock valued at $9,125,000 after buying an additional 145,300 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Sage Therapeutics in the third quarter valued at approximately $177,000. Two Sigma Advisers LP raised its position in shares of Sage Therapeutics by 62.6% in the second quarter. Two Sigma Advisers LP now owns 731,999 shares of the biopharmaceutical company’s stock valued at $30,437,000 after buying an additional 281,800 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Sage Therapeutics by 161.4% in the second quarter. Schonfeld Strategic Advisors LLC now owns 20,050 shares of the biopharmaceutical company’s stock valued at $834,000 after buying an additional 12,381 shares in the last quarter.

About Sage Therapeutics

Sage Therapeutics, Inc, a 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 for the treatment of postpartum depression (PPD). The company's product pipeline also includes SAGE-217, a novel neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and generalized anxiety disorders; and SAGE-324, a novel compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epileptiform disorders and Parkinson's diseases.

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Analyst Recommendations for Sage Therapeutics (NASDAQ:SAGE)

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