Shares of Sage Therapeutics, Inc. (SAGE) are up almost 5% in premarket Monday trading after analysts at JP Morgan (JPM) initiated the company with a ‘Overweight’ rating. The 12-month target price has been set at $42.00. SAGE was also initiated with a ‘Neutral’ at Goldman Sachs (GS) and a ‘Buy’ at Canaccord Genuity with both firms placing ticker’s target price at $38.00 and $40/share, respectively.
In the past month, shares of Cambridge, Massachusetts-based company have gained almost 86% since their July 18, initial public offering. SAGE has traded between a low of $24.25 and a high of $34.88 and is now at $34.98/share, which is 43.83% above that low price. Over the past week, the stock has advanced about 11%.
Sage Therapeutics, Inc is a biopharmaceutical company that develops novel medicines to treat life-threatening, rare central nervous system (CNS) disorders. The company was founded in 2010.