J.P. Morgan Thinks SAGE Therapeutics’ Stock is Going to Recover

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on SAGE Therapeutics (SAGE) on May 7 and set a price target of $85.00. The company’s shares closed last Tuesday at $39.45, close to its 52-week low of $25.01.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 16.0% and a 53.8% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Currently, the analyst consensus on SAGE Therapeutics is a Moderate Buy with an average price target of $61.92, a 57.5% upside from current levels. In a report issued on April 28, RBC Capital also maintained a Buy rating on the stock with a $71.00 price target.

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Based on SAGE Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.96 million and GAAP net loss of $169 million. In comparison, last year the company earned revenue of $465K and had a GAAP net loss of $163 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SAGE in relation to earlier this year. Earlier this month, Kimi Iguchi, the CFO & Treasurer of SAGE bought 4,000 shares for a total of $5,440.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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