Sage Therapeutics Sees Unusually High Options Volume (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) was the recipient of unusually large options trading on Thursday. Stock investors purchased 3,485 call options on the company. This is an increase of 620% compared to the average volume of 484 call options.

A number of analysts have recently issued reports on SAGE shares. Oppenheimer lowered their price target on Sage Therapeutics from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 3rd. Morgan Stanley lowered their price objective on Sage Therapeutics from $81.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 12th. Guggenheim raised Sage Therapeutics from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, November 2nd. Stifel Nicolaus lowered their price objective on Sage Therapeutics from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 4th. Finally, Royal Bank of Canada lowered their price objective on Sage Therapeutics from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $70.29.

Shares of SAGE opened at $42.93 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 3.43 and a beta of 1.75. The firm has a 50-day simple moving average of $41.04 and a two-hundred day simple moving average of $44.15. Sage Therapeutics has a 1-year low of $36.13 and a 1-year high of $98.39.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, November 2nd. The biopharmaceutical company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.84) by ($0.37). The business had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.00 million. Sage Therapeutics had a net margin of 57.61% and a negative return on equity of 23.76%. During the same quarter last year, the firm posted ($2.03) EPS. Equities analysts forecast that Sage Therapeutics will post -7.84 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp acquired a new position in shares of Sage Therapeutics in the second quarter valued at approximately $43,000. Princeton Global Asset Management LLC purchased a new position in Sage Therapeutics in the third quarter worth approximately $44,000. Metropolitan Life Insurance Co NY purchased a new position in Sage Therapeutics in the second quarter worth approximately $60,000. Meeder Asset Management Inc. lifted its stake in Sage Therapeutics by 1,429.4% in the second quarter. Meeder Asset Management Inc. now owns 1,300 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 1,215 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Sage Therapeutics by 19.7% in the third quarter. US Bancorp DE now owns 1,885 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

About Sage Therapeutics

SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.

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