Sage Therapeutics (NASDAQ:SAGE) Shares Pass Above Fifty Day Moving Average - Should You Sell?

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report)'s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.78 and traded as high as $9.19. Sage Therapeutics shares last traded at $9.17, with a volume of 1,068,311 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SAGE shares. HC Wainwright reiterated a "neutral" rating and issued a $12.00 price target on shares of Sage Therapeutics in a report on Tuesday, June 17th. Canaccord Genuity Group lifted their price target on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a report on Tuesday, June 17th. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Robert W. Baird boosted their target price on Sage Therapeutics from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, June 20th. Finally, Scotiabank downgraded Sage Therapeutics from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $12.00 to $9.20 in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.75.

Sage Therapeutics Trading Up 0.2%

The business's 50-day simple moving average is $7.78 and its 200-day simple moving average is $7.42. The company has a market capitalization of $574.23 million, a PE ratio of -1.58 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 the consensus estimate of ($0.99) by ($0.02). The business had revenue of $14.06 million during the quarter, compared to analysts' expectations of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm's revenue was up 78.0% on a year-over-year basis. During the same period last year, the company earned ($1.80) earnings per share. Sell-side analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sage Therapeutics in the 1st quarter valued at about $347,000. GAMMA Investing LLC lifted its holdings in shares of Sage Therapeutics by 16,118.0% in the 1st quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company's stock valued at $64,000 after buying an additional 8,059 shares during the period. Millennium Management LLC lifted its holdings in shares of Sage Therapeutics by 8.3% in the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock valued at $8,817,000 after buying an additional 124,720 shares during the period. ProShare Advisors LLC boosted its position in Sage Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock worth $99,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Sage Therapeutics by 108.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock worth $405,000 after purchasing an additional 38,876 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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