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

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.99 and traded as high as $7.51. Sage Therapeutics shares last traded at $7.27, with a volume of 1,302,493 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SAGE shares. 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 report on Thursday, November 21st. Stifel Nicolaus dropped their price objective on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, December 16th. Canaccord Genuity Group lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. TD Cowen lowered their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Finally, Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of Sage Therapeutics in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.88.

Sage Therapeutics Stock Down 3.1 %

The stock’s 50-day moving average price is $6.99 and its 200 day moving average price is $6.72. The firm has a market capitalization of $446.97 million, a price-to-earnings ratio of -1.10 and a beta of 0.82.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. On average, sell-side analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds have recently modified their holdings of SAGE. Caligan Partners LP acquired a new stake in shares of Sage Therapeutics in the fourth quarter valued at about $16,575,000. Boothbay Fund Management LLC acquired a new stake in Sage Therapeutics during the fourth quarter worth about $7,540,000. State Street Corp increased its position in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares during the last quarter. Federated Hermes Inc. increased its position in Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock worth $6,004,000 after purchasing an additional 430,432 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock worth $2,509,000 after purchasing an additional 234,528 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.