Sage Therapeutics (NASDAQ:SAGE) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.20 and traded as high as $9.22. Sage Therapeutics shares last traded at $9.20, with a volume of 3,011,754 shares traded.

Wall Street Analysts Forecast Growth

SAGE has been the subject of several recent research reports. Wall Street Zen downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. HC Wainwright reaffirmed a "neutral" rating and set a $12.00 target price on shares of Sage Therapeutics in a report on Tuesday, June 17th. Piper Sandler downgraded shares of Sage Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $9.00 to $8.50 in a research note on Tuesday, June 17th. Truist Financial set a $9.00 price objective on shares of Sage Therapeutics and gave the company a "hold" rating in a research note on Tuesday, June 17th. Finally, Robert W. Baird raised their target price on shares of Sage Therapeutics from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, June 20th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.93.

Sage Therapeutics Stock Performance

The firm's 50 day moving average price is $7.50 and its two-hundred day moving average price is $7.20. The firm has a market cap of $575.79 million, a PE ratio of -1.59 and a beta of 0.29.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.02). The business had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The company's revenue was up 78.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.80) earnings per share. On average, analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Large investors have recently modified their holdings of the business. US Bancorp DE increased its position in shares of Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 2,268 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Sage Therapeutics by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock worth $75,000 after buying an additional 2,446 shares during the period. Picton Mahoney Asset Management boosted its stake in Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 3,581 shares during the period. AlphaQuest LLC acquired a new stake in shares of Sage Therapeutics during the first quarter valued at about $32,000. Finally, ProShare Advisors LLC raised its stake in shares of Sage Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock valued at $99,000 after acquiring an additional 4,350 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.