Sage Therapeutics (NASDAQ:SAGE) Shares Cross Below 200-Day Moving Average – Here’s Why

Sage Therapeutics, Inc. (NASDAQ:SAGE) passed 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 traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Robert W. Baird decreased their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America lowered their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. HC Wainwright reissued a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday, November 20th. StockNews.com cut Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.53.

Sage Therapeutics Stock Down 2.2 %

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

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). 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 analyst estimates of $10.80 million. During the same period in the previous year, the company posted ($2.81) EPS. The company’s quarterly revenue was up 337.1% on a year-over-year basis. Sell-side analysts forecast that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SAGE. Headlands Technologies LLC raised its position in shares of Sage Therapeutics by 245.3% in 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 in the last quarter. China Universal Asset Management Co. Ltd. increased 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 worth $85,000 after purchasing an additional 4,672 shares in the last quarter. Creative Planning bought a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $88,000. Quest Partners LLC grew its position in shares of 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 buying an additional 1,486 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Sage Therapeutics in the 3rd quarter valued at $146,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.