Oppenheimer Issues a Buy Rating on SAGE Therapeutics (SAGE)

Oppenheimer analyst Jay Olson assigned a Buy rating to SAGE Therapeutics (SAGE) yesterday and set a price target of $90.00. The company’s shares closed last Thursday at $69.67.

According to TipRanks.com, Olson is a 1-star analyst with an average return of -0.8% and a 40.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Frequency Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SAGE Therapeutics with a $87.07 average price target, implying a 26.2% upside from current levels. In a report issued on November 27, Raymond James also assigned a Buy rating to the stock with a $88.00 price target.

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Based on SAGE Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.64 million and GAAP net loss of $106 million. In comparison, last year the company earned revenue of $3.57 million and had a GAAP net loss of $180 million.

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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.

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