Sage Therapeutics (NASDAQ:SAGE) Share Price Crosses Above 50 Day Moving Average - Time to Sell?

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SAGE shares. Wedbush reiterated a "neutral" rating and set a $6.00 price objective on shares of Sage Therapeutics in a report on Wednesday, February 12th. Piper Sandler decreased their price target on shares of Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Stifel Nicolaus dropped their price objective on Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating on the stock in a research note on Monday, December 16th. Bank of America initiated coverage on Sage Therapeutics in a report on Tuesday. They set an "underperform" rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sage Therapeutics presently has a consensus rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Performance

The stock has a market cap of $474.63 million, a P/E ratio of -1.17 and a beta of 0.82. The firm's 50 day moving average is $7.11 and its 200 day moving average is $6.72.

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Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts expect that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company's stock valued at $21,127,000 after purchasing an additional 451,377 shares during the last quarter. RTW Investments LP raised its holdings in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company's stock worth $40,372,000 after buying an additional 111,123 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sage Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company's stock worth $3,265,000 after buying an additional 43,617 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock worth $8,975,000 after buying an additional 3,757 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sage Therapeutics during the third quarter valued at $473,000. Institutional investors and hedge funds own 99.22% of the company's stock.

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.