Sage Therapeutics' (SAGE) CORAL Phase 3 Study Likely to Meet Primary Endpoint, But Not Enough to Drive Stock Higher - Needham & Company
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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.)"
Shares of Sage Therapeutics closed at $42.92 yesterday.
Written by Vlad Schepkov | [email protected]
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