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SAGE

Sage Therapeutics

$76.40

-12.12 (-13.69%)

07:43
09/13/17
09/13
07:43
09/13/17
07:43

Needham still upbeat on Sage Therapeutics after endpoint miss

After Sage's Brexanolone drug missed the primary and secondary endpoints of its Phase 3 trial involving Super-Refractory Status Epilepticus, or SRSE, patients, Needham analyst Danielle Brill says the results do not impact her view of the drug's efficacy in post-partum depression, or PPD,. She says that PPD is much easier to treat than SRSE, while the drug;s mechanism of action is different in PPD versus SRSE. The analyst notes that the drug demonstrated that it lowered PPD by statistically significant amounts in a previous trial. She cut her price target on the stock to $86 from $95 but keeps a Buy rating on the shares.

  • 13

    Sep

SAGE Sage Therapeutics
$76.40

-12.12 (-13.69%)

09/12/17
BMOC
09/12/17
NO CHANGE
Target $84
BMOC
Outperform
Focus shifting to PPD data as Sage SRSE study disappoints, says BMO Capital
BMO Capital analyst Gary Nachman notes that Sage Therapeutics reported disappointing Phase 3 results for brexanolone in SRSE, and will not move forward with it. Additionally, the analyst points out that management remains just as confident with upcoming Phase 3 data for brexanolone in postpartum depression and Phase 2b data for SAGE-217 in MDD, both in 2H17, as it does not see read-through to those from SRSE. While the SRSE data is a clear setback, most view PPD/MDD as the more exciting opportunities longer term, which provides a support level for the stock, Nachman adds. He reiterates an Outperform rating and $84 price target on the shares.
09/12/17
COWN
09/12/17
NO CHANGE
Target $90
COWN
Outperform
Sage Therapeutics price target lowered to $90 from $100 at Cowen
Cowen analyst Ritu Baral lowered her price target for Sage Therapeutics to $90 after Phase 3 Status trial of brexanolone failed to meet primary and secondary endpoints. The analyst viewed super refractory status epilepticus as the highest-risk indication in Sage's pipeline. With multiple depression catalysts in the second half of 2017, incremental buyers are likely to step into the shares on today's weakness, Baral tells investors in a research note. The analyst keeps an Outperform rating on Sage.
09/12/17
JPMS
09/12/17
NO CHANGE
Target $85
JPMS
Overweight
Sage Therapeutics price target lowered to $85 from $99 at JPMorgan
JPMorgan analyst Cory Kasimov lowered his price target for Sage Therapeutics to $85 after zeroing out super refractory status epilepticus due to this morning's Phase 3 failure. The analyst keeps an Overweight rating on the shares, however, saying he still has higher conviction in the Phase 2 and 3 postpartum depression programs. The stock's resiliency today highlights the value in having a broad pipeline, Kasimov writes in an intraday research note. Sage in afternoon trading is down 15%, or $13.70, to $74.82.
09/12/17
ADAM
09/12/17
NO CHANGE
Target $81
ADAM
Buy
Sage Therapeutics price target lowered to $81 from $110 at Canaccord
Canaccord Genuity analyst John Newman lowered his price target for Sage Therapeutics to $81 after SAGE-547 missed the primary endpoint in the Phase 3 Status trial. The analyst, however, is not concerned on read-through to other indications. The mechanism of action for SAGE-547 and SAGE-217 is still valid, Newman tells investors in a research note. After removing super refractory status epilepticus from his model, the analyst keeps a Buy rating on Sage.

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