A number of other research firms also recently commented on SAGE. StockNews.com downgraded shares of Sage Therapeutics from a hold rating to a sell rating in a report on Tuesday, July 19th. The Goldman Sachs Group decreased their price objective on shares of Sage Therapeutics from $85.00 to $73.00 and set a buy rating on the stock in a report on Tuesday, May 24th. Mizuho decreased their price objective on shares of Sage Therapeutics from $41.00 to $37.00 in a report on Wednesday, May 4th. SVB Leerink decreased their price objective on shares of Sage Therapeutics from $50.00 to $40.00 and set a market perform rating on the stock in a report on Monday, July 11th. Finally, Citigroup boosted their price objective on shares of Sage Therapeutics to $41.00 in a report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $54.53.
Sage Therapeutics Stock Up 2.3 %
Shares of NASDAQ:SAGE opened at $35.25 on Tuesday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -4.28 and a beta of 1.43. The firm’s 50-day simple moving average is $34.34 and its 200-day simple moving average is $34.95. Sage Therapeutics has a fifty-two week low of $27.36 and a fifty-two week high of $47.75.
In other news, Director George Golumbeski acquired 8,000 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was acquired at an average price of $31.45 per share, with a total value of $251,600.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $251,600. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
Hedge Funds Weigh In On Sage Therapeutics
Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at approximately $28,000. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at approximately $34,000. US Bancorp DE grew its holdings in Sage Therapeutics by 32.5% in the second quarter. US Bancorp DE now owns 1,863 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 457 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Sage Therapeutics in the fourth quarter valued at approximately $213,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Sage Therapeutics by 15.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 5,570 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 725 shares during the period. Institutional investors and hedge funds own 84.40% of the company’s stock.
About Sage Therapeutics
Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.
- Get a free copy of the StockNews.com research report on Sage Therapeutics (SAGE)
- 3 Health Care Stocks in Great Financial Health
- Amazon Names Itself A Top Stock Of Q3 Contender
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Market Fundamentals Drive Results For The Williams Companies
- 3 Earnings Announcements That Could Surprise
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Sage Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sage Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.