After Ladenburg and BMO Capital gave SAGE Therapeutics (NASDAQ: SAGE) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson maintained a Buy rating on SAGE Therapeutics yesterday and set a price target of $170. The company’s shares closed yesterday at $139.13.
Olson commented:
“SAGE announced positive top-line data from the Ph3 study of oral SAGE-217 in PPD. Patients treated with SAGE-217 had a statistically significant improvement of 17.8 points in the HAMD-17 score at day 14, compared to 13.6 for placebo (4.2 point improvement, primary endpoint, p=0.0029). Baseline mean HAM-D score was 28. The significant HAM-D reduction was maintained through the end of the four-week follow- up (day 45, p=0.0027). Data is in line with Ph2 data and the MADRS scale showing robustness. No LOC or syncope was observed. Somnolence appeared in single-digit percent of patients. One SAE was due to confusion and resolved. Considering the positive panel vote on brexanolone efficacy (~2.5-5.5 point HAM-D improvement), we view today’s SAGE-217 results as clinically meaningful and approvable.”
According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.2% and a 29.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
SAGE Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $203.73, implying a 46.4% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock with a $207 price target.
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The company has a one-year high of $195.97 and a one-year low of $79.88. Currently, SAGE Therapeutics has an average volume of 524.1K.
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SAGE Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders. The company was founded by Steven Marc Paul and Douglas Covey in April 2010 and is headquartered in Cambridge, MA.
