Investors Purchase Large Volume of Put Options on SAGE Therapeutics (SAGE)

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SAGE Therapeutics Inc (NASDAQ:SAGE) saw unusually large options trading on Thursday. Stock investors purchased 1,391 put options on the company. This represents an increase of 859% compared to the average daily volume of 145 put options.

SAGE has been the subject of a number of analyst reports. BidaskClub downgraded SAGE Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. LADENBURG THALM/SH SH initiated coverage on SAGE Therapeutics in a research report on Wednesday, June 6th. They issued a “buy” rating and a $230.00 price target for the company. Canaccord Genuity restated a “buy” rating and issued a $220.00 price target on shares of SAGE Therapeutics in a research report on Tuesday, June 12th. Cowen restated a “buy” rating and issued a $207.00 price target on shares of SAGE Therapeutics in a research report on Thursday, June 14th. Finally, Morgan Stanley raised their price target on SAGE Therapeutics from $225.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. SAGE Therapeutics has a consensus rating of “Buy” and a consensus target price of $199.19.

Several large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of SAGE Therapeutics by 26.4% during the second quarter. CIBC Asset Management Inc now owns 1,633 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 341 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of SAGE Therapeutics by 9.5% during the first quarter. Prudential Financial Inc. now owns 4,220 shares of the biopharmaceutical company’s stock worth $680,000 after purchasing an additional 366 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of SAGE Therapeutics by 3.2% during the first quarter. Principal Financial Group Inc. now owns 12,406 shares of the biopharmaceutical company’s stock worth $1,998,000 after purchasing an additional 382 shares during the last quarter. BTG Pactual Global Asset Management Ltd lifted its position in shares of SAGE Therapeutics by 12.4% during the second quarter. BTG Pactual Global Asset Management Ltd now owns 4,015 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 442 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of SAGE Therapeutics by 15.3% during the first quarter. Neuberger Berman Group LLC now owns 3,459 shares of the biopharmaceutical company’s stock worth $557,000 after purchasing an additional 459 shares during the last quarter.

NASDAQ:SAGE opened at $148.33 on Friday. SAGE Therapeutics has a twelve month low of $59.57 and a twelve month high of $195.97.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($1.84) by $1.48. The business had revenue of $90.00 million for the quarter. sell-side analysts predict that SAGE Therapeutics will post -7.37 earnings per share for the current fiscal year.

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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