Sage Therapeutics (NASDAQ:SAGE) Stock Crosses Below 200-Day Moving Average – Should You Sell?

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

Analyst Ratings Changes

A number of brokerages recently issued reports on SAGE. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. 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. HC Wainwright reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus cut their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. Three investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.53.

Sage Therapeutics Stock Performance

The company has a market capitalization of $339.51 million, a price-to-earnings ratio of -0.99 and a beta of 0.91. The business has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $7.62.

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

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently modified their holdings of SAGE. Headlands Technologies LLC increased its holdings in 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 buying an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. raised 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 buying an additional 4,672 shares during the period. Creative Planning acquired a new position in Sage Therapeutics during the 3rd quarter worth approximately $88,000. 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 last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Sage Therapeutics during the third quarter worth about $146,000. 99.22% of the stock is owned by hedge funds and other 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.