Canaccord Genuity analyst Sumant Kulkarni reiterated a Buy rating on SAGE Therapeutics (NASDAQ: SAGE) yesterday and set a price target of $220. The company’s shares closed yesterday at $175.76, close to its 52-week high of $195.97.
According to TipRanks.com, Kulkarni is a 3-star analyst with an average return of 2.3% and a 46.8% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Intra-Cellular Therapies, and Alder Biopharmaceuticals.
Currently, the analyst consensus on SAGE Therapeutics is Strong Buy and the average price target is $213, representing a 21.2% upside.
In a report issued on June 6, Ladenburg also initiated coverage with a Buy rating on the stock with a $230 price target.
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Based on SAGE Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $74.6 million. In comparison, last year the company had a GAAP net loss of $56.78 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock.
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SAGE Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders. The company was founded by Steven Marc Paul and Douglas Covey in April 2010 and is headquartered in Cambridge, MA.
