Sage Therapeutics (NASDAQ:SAGE) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America cut their price target on shares of 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 restated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Wedbush decreased their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Truist Financial decreased their target price on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $10.53.

Sage Therapeutics Trading Down 2.2 %

The company has a market cap of $357.86 million, a price-to-earnings ratio of -1.05 and a beta of 0.91. The stock has a 50-day simple moving average of $5.59 and a 200-day simple moving average of $7.67.

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

Hedge Funds Weigh In On Sage Therapeutics

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