Traders Buy High Volume of Call Options on SAGE Therapeutics (SAGE)

SAGE Therapeutics Inc (NASDAQ:SAGE) saw some unusual options trading activity on Thursday. Stock traders acquired 3,979 call options on the company. This represents an increase of approximately 1,572% compared to the typical daily volume of 238 call options.

A number of large investors have recently modified their holdings of SAGE. Millennium Management LLC grew its holdings in SAGE Therapeutics by 622.4% during the 2nd quarter. Millennium Management LLC now owns 379,904 shares of the biopharmaceutical company’s stock valued at $59,466,000 after purchasing an additional 327,312 shares during the last quarter. Fiera Capital Corp grew its holdings in SAGE Therapeutics by 789.3% during the 2nd quarter. Fiera Capital Corp now owns 273,918 shares of the biopharmaceutical company’s stock valued at $42,876,000 after purchasing an additional 243,118 shares during the last quarter. Waddell & Reed Financial Inc. bought a new position in SAGE Therapeutics during the 2nd quarter valued at about $34,640,000. American Century Companies Inc. grew its holdings in SAGE Therapeutics by 63.6% during the 2nd quarter. American Century Companies Inc. now owns 527,062 shares of the biopharmaceutical company’s stock valued at $82,501,000 after purchasing an additional 204,831 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in SAGE Therapeutics by 381.1% during the 1st quarter. Point72 Asset Management L.P. now owns 102,600 shares of the biopharmaceutical company’s stock valued at $16,526,000 after purchasing an additional 139,100 shares during the last quarter.

A number of research firms recently weighed in on SAGE. BidaskClub upgraded shares of SAGE Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 18th. Morgan Stanley lifted their target price on shares of SAGE Therapeutics from $225.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Stifel Nicolaus lifted their target price on shares of SAGE Therapeutics from $198.00 to $239.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Canaccord Genuity set a $220.00 target price on shares of SAGE Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, Piper Jaffray Companies began coverage on shares of SAGE Therapeutics in a research note on Monday, August 6th. They set an “overweight” rating and a $206.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $204.50.

Shares of NASDAQ SAGE opened at $124.82 on Friday. The stock has a market cap of $6.59 billion, a PE ratio of -17.61 and a beta of 2.92. SAGE Therapeutics has a 12-month low of $59.57 and a 12-month high of $195.97.

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

About SAGE Therapeutics

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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