Sage Therapeutics, Inc. (NASDAQ:SAGE) saw an uptick in trading volume on Tuesday . 20,202 shares traded hands during mid-day trading, a decline of 96% from the previous session’s volume of 492,795 shares.The stock last traded at $79.88 and had previously closed at $77.89.
Several analysts recently issued reports on the company. Raymond James assumed coverage on Sage Therapeutics in a research report on Monday, February 1st. They set a “market perform” rating for the company. Royal Bank of Canada cut Sage Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $83.00 to $86.00 in a report on Monday, January 4th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Sage Therapeutics from $83.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. TheStreet upgraded Sage Therapeutics from a “d-” rating to a “c-” rating in a report on Friday, March 19th. Finally, Mizuho restated a “neutral” rating and set a $81.00 price target on shares of Sage Therapeutics in a report on Thursday, March 4th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $87.06.
The stock has a market cap of $4.55 billion, a PE ratio of -7.53 and a beta of 2.23. The business has a 50 day moving average price of $78.23 and a 200 day moving average price of $77.24.
Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of Sage Therapeutics by 22.2% in the fourth quarter. Janus Henderson Group PLC now owns 1,978,811 shares of the biopharmaceutical company’s stock worth $171,190,000 after buying an additional 359,110 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Sage Therapeutics by 11.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,592,933 shares of the biopharmaceutical company’s stock valued at $137,805,000 after acquiring an additional 159,484 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Sage Therapeutics by 28.7% during the fourth quarter. Jennison Associates LLC now owns 563,968 shares of the biopharmaceutical company’s stock valued at $48,789,000 after acquiring an additional 125,603 shares during the last quarter. Norges Bank acquired a new position in shares of Sage Therapeutics during the fourth quarter valued at approximately $44,045,000. Finally, Artal Group S.A. raised its holdings in shares of Sage Therapeutics by 79.9% during the fourth quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $34,604,000 after acquiring an additional 177,700 shares during the last quarter.
About Sage Therapeutics (NASDAQ:SAGE)
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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