Needham & Company Starts Sage Therapeutics (SAGE) at Buy

Needham & Company initiates coverage on Sage Therapeutics (NASDAQ: SAGE) with a Buy rating and a price target of $82.00.

Analyst Danielle Brill commented, "We are initiating coverage with a BUY rating and $82 PT. In our view, SAGE value is derived from three clinical programs, none of which are fully appreciated at current valuation. The next major catalyst, expected in 3Q17, is pivotal Phase 3 data with lead compound IV brexanolone in super refractory status epilepticus (SRSE). We recognize risk, given lack of placebo controlled data to support Phase 3 design. However, given impressive open-label Phase 1/2 data, we have a positive bias for success (65% prob.) and we like current risk/ reward profile for SAGE shares ahead of the data. Regardless of SRSE outcome, we believe there is meaningful value for brexanolone in postpartum depression (PPD) and for oral SAGE-217 program. Results are expected from many trials across the pipeline in 2017 providing multiple drivers for growth."

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 $71.08 yesterday.

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