Sage Therapeutics (SAGE) PT Raised to $105 at Cowen Following WATERFALL Data

Cowen analyst Ritu Baral raised the price target on Sage Therapeutics (NASDAQ: SAGE) to $105.00 (from $100.00) while maintaining an Outperform rating following trial data.

The analyst commented, "This AM Sage released topline data from their Ph3 WATERFALL study of 50mg zuranolone in MDD, which met its primary endpoint in reduction in HAMD at Day 15 (p=0.0141) and demonstrated favorable safety. Despite the modest improvement in HAMD at Day 15, we view this study as successful and are optimistic on zuranolone's potential approval in MDD. We have increased out PT to $105, remain Outperform."

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