SAGE Therapeutics (SAGE) Receives a Buy from Oppenheimer

By Ryan Adsit

Oppenheimer analyst Jay Olson maintained a Buy rating on SAGE Therapeutics (SAGEResearch Report) yesterday and set a price target of $170. The company’s shares closed yesterday at $165.52, close to its 52-week high of $177.14.

Olson said:

“SAGE provided a business update along with 1Q results addressing several areas of interest, including launch plans for Zulresso (IV brexanolone) and an R&D portfolio prioritization process to optimize pipeline investments. We’re encouraged by the portfolio approach as SAGE is well funded with ~$1.4B in cash ending 1Q but faces multiple new indications and new molecules from which to select the most attractive investment opportunities including 1) new indications for SAGE-217 with results from the Ph2 ARCHWAY study in bipolar depression expected in July, 2) SAGE-718 NMDA receptor modulator which offers potential for cognitive benefits in various disorders, 3) SAGE-324 next-generation GABA receptor modulator for neurologic conditions, and 4) another PPD study requred for EU approval of Zulresso. We maintain Outperform; details inside.”

According to, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.1% and a 36.4% 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 $211.73 average price target, representing a 27.9% upside. 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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The company has a one-year high of $177.14 and a one-year low of $79.88. Currently, SAGE Therapeutics has an average volume of 529.5K.

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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.