Sage Therapeutics (NASDAQ:SAGE) Stock Passes 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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SAGE shares. Bank of America decreased their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Oppenheimer lowered their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, 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 on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to 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 5.1 %

The stock’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $7.62. The company has a market cap of $339.51 million, a price-to-earnings ratio of -0.99 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly 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). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. During the same period in the previous year, the firm posted ($2.81) EPS. The firm’s quarterly revenue was up 337.1% compared to the same quarter last year. On average, analysts predict that Sage Therapeutics, Inc. will post -6.53 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings in shares of Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 worth $85,000 after acquiring an additional 4,672 shares in the last quarter. Quest Partners LLC increased its position in shares of 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 acquiring an additional 1,486 shares during the period. Creative Planning acquired a new stake in shares of Sage Therapeutics in the third quarter valued at $88,000. Finally, Point72 DIFC Ltd purchased a new position in Sage Therapeutics in the second quarter valued at $153,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.