SAGE Therapeutics (SAGE) Defended at Raymond James, Says Selloff is Overreaction

Raymond James maintains Strong Buy on Sage Therapeutics (NASDAQ: SAGE) price target of $206.00.

Analyst Laura Chico believes the 10%+ selloff is an overreaction to a post-close Thursday Form 4 filing highlighting a insider sale by a director (LINK) along with a Biogen (NASDAQ: BIIB) and Ionis Pharma (NASDAQ: IONS) deal (LINK).

The analyst points out that the selling director still holds a "sizable" position and this sale is the first.

For an analyst ratings summary and ratings history on Sage Therapeutics click here. For more ratings news on Sage Therapeutics click here.

Shares of Sage Therapeutics closed at $169.67 yesterday.

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