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

Sage Therapeutics, Inc. (NASDAQ:SAGE)’s stock 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 trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on SAGE shares. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Scotiabank lowered their price target on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Truist Financial dropped their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Oppenheimer decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler dropped their target price on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.53.

Sage Therapeutics Price Performance

The stock has a market capitalization of $339.51 million, a P/E ratio of -0.99 and a beta of 0.91. The stock’s fifty day moving average is $5.57 and its 200-day moving average is $7.62.

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

Institutional Trading of Sage Therapeutics

Several large investors have recently modified their holdings of the company. RTW Investments LP increased its position in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the period. State Street Corp grew its stake in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the last quarter. Geode Capital Management LLC increased its position in Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after acquiring an additional 3,757 shares during the period. Federated Hermes Inc. acquired a new position in Sage Therapeutics during the 2nd quarter valued at $7,281,000. Finally, Renaissance Technologies LLC boosted its holdings in Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after purchasing an additional 518,296 shares during the period. 99.22% of the stock is owned by institutional investors.

About Sage Therapeutics

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.