UPDATE: Stifel Starts Sage Therapeutics (SAGE) at Buy

November 14, 2016 7:36 AM EST
Get Alerts SAGE Hot Sheet
Price: $49.02 -0.47%

Rating Summary:
    12 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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(Updated - November 14, 2016 9:11 AM EST)

Stifel initiated coverage on Sage Therapeutics (NASDAQ: SAGE) with a Buy rating and a price target of $90.

Analyst Katherine Breedis said, "SAGE has a strong management with broad depth of pharma/biotech experience in developing therapeutics for diseases of the Central Nervous System (CNS). We view SAGE as a CNS platform company with lead asset SAGE-547, a GABA A allosteric modulator in Ph.III for treatment of Super Refractive Status Epilepticus (SRSE, a severe form of epilepsy), and soon-to-start Ph.III in severe postpartum depression (PPD), both of which are of high unmet medical need. The company also has Ph.II SAGE-217, a highly potent oral GABA A allosteric modulator for multiple indications, and early stage SAGE-718 (NMDA agonist) for orphan indications."

The analyst added, "We see significant upside potential to SAGE shares as pipeline visibility grows; there are eight key data read-outs in 2017, a high volume of news flow for a company of this size, in our view. We forecast SAGE’s first product launch in 2018, with revenues for SAGE-547 in SRSE alone growing to over $1.4 billion by 2025. While SAGE-547 is the key driver of our $90 DCF valuation, we further see upside to our valuation as we garner greater visibility on potential pathway to registration for other early-to-mid stage pipeline assets."

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 $51.60 yesterday.



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