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

Sage Therapeutics, Inc. (NASDAQ:SAGE) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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

A number of research analysts have commented on SAGE shares. Wedbush cut 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 note on Wednesday, October 9th. Piper Sandler reduced 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. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Royal Bank of Canada raised shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective for the company in a research report on Thursday, November 21st. Finally, HC Wainwright restated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a report on Wednesday, November 20th. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Down 5.1 %

The stock has a 50 day simple moving average of $5.57 and a two-hundred day simple moving average of $7.62. The stock has a market capitalization of $339.51 million, a P/E ratio of -0.99 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAGE. Bank of New York Mellon Corp grew its position in shares of Sage Therapeutics by 20.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock worth $2,376,000 after purchasing an additional 37,691 shares in the last quarter. Rhumbline Advisers grew its position in Sage Therapeutics by 17.5% during the second quarter. Rhumbline Advisers now owns 91,002 shares of the biopharmaceutical company’s stock worth $988,000 after buying an additional 13,573 shares in the last quarter. Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 1,486 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Sage Therapeutics by 245.3% during the 2nd 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 during the period. Finally, American Century Companies Inc. grew its position in Sage Therapeutics by 17.9% in the second quarter. American Century Companies Inc. now owns 316,331 shares of the biopharmaceutical company’s stock valued at $3,435,000 after acquiring an additional 48,041 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

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.