Sage Therapeutics (NASDAQ:SAGE) Share Price Passes Below 200 Day Moving Average – What’s Next?

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.67 and traded as low as $5.72. Sage Therapeutics shares last traded at $5.85, with a volume of 722,997 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SAGE shares. Wedbush decreased their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. HC Wainwright reiterated a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Bank of America lowered their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Finally, Piper Sandler lowered their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Trading Down 2.2 %

The business has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $7.67. The company has a market cap of $357.86 million, a PE ratio of -1.05 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.81) earnings per share. On average, equities research analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of SAGE. Quest Partners LLC raised its stake in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares during the period. AdvisorShares Investments LLC increased its holdings in shares of Sage Therapeutics by 13.6% during the 2nd quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 1,918 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the period. Geode Capital Management LLC raised its position in shares of Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,672 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.