Sage Therapeutics (SAGE) PT Raised to $93 at Leerink Partners
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Rating Summary:
7 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 10
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Leerink Partners analyst Paul Matteis reiterated an Outperform rating and boosted his price target on Sage Therapeutics (NASDAQ: SAGE) to $93.00 (from $70.00) after a deep dive on SAGE-547 in SRSE, Tremor and PPD.
Matteis commented, "On the heels of full SAGE-547 phase I/II SRSE (Super Refractory Status Epilepticus) data and ahead of pilot study readouts in essential tremor (ET) and postpartum depression (PPD), we spoke with multiple MEDACorp KOLs and performed a deep dive into the broader applicability of SAGE's synaptic/extrasynaptic GABA-R allosteric modulation platform. Based on the robust, 77% rate in the full phase I/II data set, MEDACorp specialists expect '547 to be used in the vast majority of SRSE patients, as well as upstream of SRSE in individuals who have not yet received anesthesia. Meanwhile, with a strong clinical rationale but little priced into the stock, we see a favorable risk/reward ahead of ET/PPD data in mid-2015. Reit. OP. PT to $93 from $70 on an increase in SRSE ests and a small addition to pipeline sales."
For an analyst ratings summary and ratings history on Sage Therapeutics click here. For more ratings news on Sage Therapeutics click here.
Shares of Sage Therapeutics closed at $73.81 yesterday.
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