Sage Therapeutics' (SAGE) CORAL Phase 3 Study Likely to Meet Primary Endpoint, But Not Enough to Drive Stock Higher - Needham & Company

Needham & Company analyst Ami Fadia reiterated a Buy rating and $85.00 price target on Sage Therapeutics (NASDAQ: SAGE)

The analyst quotes: "In this note we preview the upcoming CORAL Phase 3 data readout for zuranolone + ADT vs ADT alone in MDD in early 2022. We believe that there is a high likelihood for the study to meet its primary endpoint of reduction in HAMD at day 3; however, that alone is unlikely to drive a positive move in the stock. From an investor's perspective, we think the day 15 and day 42 secondary endpoints are a greater focus, and will be important for continued momentum in the stock. As discussed inside the note, we believe the study has a good chance of hitting the endpoint at day 15 and will likely show a continued trend at day 42 (unlikely to be stat sig.)"

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 $42.92 yesterday.

Written by Vlad Schepkov | [email protected]

You May Also Be Interested In

• UPDATE: Stifel Downgrades Avadel Pharmaceuticals (AVDL) to Hold
• Liquidia Technologies (LQDA) Defended by Needham & Company Despite Tyvaso DPI Approval, Cites "Significant Potential of Yutrepia"
• UPDATE: Tigress Financial Partners Starts BRC Inc. (BRCC) at Buy