William Blair on Sage Therapeutics (SAGE): 'we have difficulty envisioning what additional data could be generated to support a resubmission'

William Blair analyst Tim Lugo reiterated a Market Perform rating on Sage Therapeutics (NASDAQ: SAGE).

The analyst comments "We rate shares of Sage Market Perform. We view Zurzuvae’s PPD approval with a challenging label and the MDD CRL as a double setback for Sage. The PPD label looks challenging and, even if Zurzuvae is eventually approved in MDD, the label looks like any meaningful adoption is unlikely. While Sage and Biogen (BIIB $196.36; Outperform) are reviewing the feedback and evaluating next steps for the MDD program, we believe data from the LANDSCAPE program was substantial, and we have difficulty envisioning what additional data could be generated to support a resubmission. While dalzanemdor represents a pipeline opportunity with large opportunities in HD and AD, the failed placebo-controlled PRECEDENT study, which showed no differentiation on efficacy from placebo, calls into question the activity of the drug and places increased risk on the programs, although we acknowledge indication differences in PD compared to HD and AD."

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 $15.63 yesterday.

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