SAGE Therapeutics (NASDAQ:SAGE) had its target price trimmed by Royal Bank of Canada from $190.00 to $100.00 in a report released on Friday morning, Briefing.com Automated Import reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.
SAGE has been the subject of a number of other research reports. ValuEngine raised shares of SAGE Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, December 5th. Piper Jaffray Companies dropped their price objective on shares of SAGE Therapeutics from $206.00 to $125.00 and set an overweight rating on the stock in a report on Thursday, December 5th. SunTrust Banks downgraded SAGE Therapeutics from a buy rating to a hold rating and cut their target price for the company from $210.00 to $70.00 in a research report on Thursday, December 5th. Morgan Stanley reduced their target price on SAGE Therapeutics from $217.00 to $125.00 and set an overweight rating for the company in a research note on Friday. Finally, BidaskClub raised SAGE Therapeutics from a strong sell rating to a sell rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. SAGE Therapeutics presently has an average rating of Buy and an average price target of $128.81.
Shares of SAGE Therapeutics stock opened at $62.66 on Friday. The company has a 50 day moving average price of $137.72 and a 200 day moving average price of $159.26. The firm has a market capitalization of $3.34 billion, a P/E ratio of -7.75 and a beta of 2.52. The company has a quick ratio of 12.67, a current ratio of 12.67 and a debt-to-equity ratio of 0.03. SAGE Therapeutics has a 52 week low of $56.50 and a 52 week high of $193.56.
Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in SAGE Therapeutics by 197.2% during the second quarter. Invesco Ltd. now owns 2,021,964 shares of the biopharmaceutical company’s stock valued at $370,201,000 after purchasing an additional 1,341,720 shares during the period. Nuveen Asset Management LLC acquired a new stake in SAGE Therapeutics during the 2nd quarter worth about $113,776,000. Jennison Associates LLC raised its stake in shares of SAGE Therapeutics by 25.4% during the 2nd quarter. Jennison Associates LLC now owns 2,953,913 shares of the biopharmaceutical company’s stock valued at $540,832,000 after buying an additional 598,299 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of SAGE Therapeutics by 12.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,873,408 shares of the biopharmaceutical company’s stock valued at $343,002,000 after buying an additional 204,779 shares during the last quarter. Finally, State Street Corp raised its stake in shares of SAGE Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 1,039,599 shares of the biopharmaceutical company’s stock valued at $145,845,000 after buying an additional 84,138 shares during the last quarter.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage 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 that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
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