Oppenheimer Keeps Their Buy Rating on SAGE Therapeutics (SAGE)

By Ryan Adsit

In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on SAGE Therapeutics (SAGEResearch Report), with a price target of $170. The company’s shares closed on Friday at $167.34, close to its 52-week high of $177.14.

Olson observed:

“We met with at SAGE during our Cambridge Bus Tour. We discussed Zulresso launch preparation and the R&D portfolio review planned for July and were impressed by: 1) Zulresso launch preparations, which require a paradigm shift for the treatment of depression that SAGE is in the process of engineering, 2) adapting our healthcare system to this new mindset will take time but should pave the way for SAGE-217, 3) while SAGE is well funded ($1.4B in cash), the porfolio process should prioritize R&D investments, and 4) with several drugs in development SAGE plans to optimize assets’ unique profiles, which have already started to emerge based on preclinical and early clinical data for SAGE-324 and 718.”

According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -4.9% and a 39.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SAGE Therapeutics with a $212.45 average price target, which is a 27.0% upside from current levels. In a report issued on April 25, Jefferies also initiated coverage with a Buy rating on the stock with a $195 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 $163 million. In comparison, last year the company had a GAAP net loss of $74.6 million.

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SAGE Therapeutics, Inc. operates as 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.