Wedbush analyst Laura Chico started Sage Therapeutics with an Outperform rating and $207 price target.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

H.C. Wainwright analyst Douglas Tsao reiterates a Neutral rating on Sage Therapeutics after the company discontinued SAGE-718 in Parkinson's after the PRECEDENT study showed no benefit. The results are disappointing and, more importantly, raise concern about the upcoming top-line data readouts for SAGE-718 in Alzheimer's disease and Huntington's disease, the analyst tells investors in a research note. The firm recognizes the differences between the indications, but it also sees similarities. As such, SAGE-718's lack of treatment effect in Parkinson's patients "gives us additional pause heading into the next set of readouts," contends H.C. Wainwright.

BofA downgraded Sage Therapeutics to Underperform from Neutral with a price target of $14, down from $24.

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