Stock Traders Purchase High Volume of Put Options on SAGE Therapeutics (SAGE)

SAGE Therapeutics Inc (NASDAQ:SAGE) saw some unusual options trading activity on Thursday. Stock traders acquired 2,163 put options on the company. This is an increase of approximately 1,323% compared to the typical volume of 152 put options.

Several institutional investors have recently added to or reduced their stakes in SAGE. Principal Financial Group Inc. raised its stake in shares of SAGE Therapeutics by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,406 shares of the biopharmaceutical company’s stock valued at $1,998,000 after acquiring an additional 382 shares during the period. Bank of Montreal Can raised its stake in shares of SAGE Therapeutics by 1,251.7% in the 2nd quarter. Bank of Montreal Can now owns 5,042 shares of the biopharmaceutical company’s stock valued at $789,000 after acquiring an additional 4,669 shares during the period. Creative Planning purchased a new stake in shares of SAGE Therapeutics in the 2nd quarter valued at approximately $210,000. Janney Montgomery Scott LLC raised its stake in shares of SAGE Therapeutics by 23.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,597 shares of the biopharmaceutical company’s stock valued at $876,000 after acquiring an additional 1,080 shares during the period. Finally, Aperio Group LLC purchased a new stake in shares of SAGE Therapeutics in the 2nd quarter valued at approximately $324,000.

SAGE has been the subject of a number of recent analyst reports. Oppenheimer set a $170.00 price objective on shares of SAGE Therapeutics and gave the company a “buy” rating in a report on Tuesday, November 20th. Leerink Swann initiated coverage on shares of SAGE Therapeutics in a research note on Monday, November 12th. They set an “underperform” rating and a $80.00 target price for the company. BidaskClub raised shares of SAGE Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday. LADENBURG THALM/SH SH set a $235.00 target price on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, JPMorgan Chase & Co. set a $205.00 target price on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. SAGE Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $204.14.

SAGE opened at $105.88 on Friday. The stock has a market cap of $5.09 billion, a P/E ratio of -14.93 and a beta of 2.72. SAGE Therapeutics has a twelve month low of $100.75 and a twelve month high of $195.97.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($2.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.41) by ($0.22). During the same period in the previous year, the business posted ($1.97) EPS. Analysts anticipate that SAGE Therapeutics will post -7.58 EPS for the current fiscal year.

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SAGE Therapeutics Company Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).

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