Raymond James Financial, Inc. Raises Sage Therapeutics, Inc. (SAGE) Price Target to $109.00

Sage Therapeutics, Inc. (NASDAQ:SAGE) had its target price hoisted by Raymond James Financial, Inc. to $109.00 in a report issued on Thursday. Raymond James Financial, Inc. currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the stock. J P Morgan Chase & Co dropped their price objective on shares of Sage Therapeutics from $99.00 to $85.00 and set an overweight rating on the stock in a research note on Tuesday, September 12th. Stifel Nicolaus reiterated a buy rating and set a $90.00 price objective on shares of Sage Therapeutics in a research note on Friday, July 14th. Canaccord Genuity dropped their price objective on shares of Sage Therapeutics from $110.00 to $81.00 and set a buy rating on the stock in a research note on Tuesday, September 12th. Needham & Company LLC dropped their price objective on shares of Sage Therapeutics from $95.00 to $86.00 and set a buy rating on the stock in a research note on Wednesday, September 13th. Finally, SunTrust Banks, Inc. reiterated a buy rating and set a $82.00 price objective (down previously from $95.00) on shares of Sage Therapeutics in a research note on Wednesday, September 13th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $99.86.

Sage Therapeutics (NASDAQ:SAGE) opened at $96.04 on Thursday. Sage Therapeutics has a 1-year low of $44.55 and a 1-year high of $98.80.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.01. The company’s revenue was up .0% on a year-over-year basis. equities analysts forecast that Sage Therapeutics will post -7.36 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Sage Therapeutics by 1.1% during the first quarter. Principal Financial Group Inc. now owns 5,623 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 62 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sage Therapeutics by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 138 shares in the last quarter. Keybank National Association OH grew its position in shares of Sage Therapeutics by 10.6% during the second quarter. Keybank National Association OH now owns 3,798 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 363 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Sage Therapeutics by 19.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,034 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 497 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Sage Therapeutics by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 59,336 shares of the biopharmaceutical company’s stock worth $4,723,000 after buying an additional 552 shares in the last quarter.

Sage Therapeutics Company Profile

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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