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SAGE

Sage Therapeutics

$72.82

0.23 (0.32%)

16:36
12/15/19
12/15
16:36
12/15/19
16:36

Stifel adds Sage to Select List, says SAGE-217 will generate billions

Stifel analyst Paul Matteis says his meeting with management of Sage Therapeutics reaffirmed his view that, "though the precise event path is uncertain," the most likely eventual outcome remains that SAGE-217 will ultimately get approved and generate billions in sales. Sage continues to comb through the failed MOUNTAIN study data, and management's view is that a coalescence of factors drove the miss at day 15, Matteis tells investors in a research note. The analyst thinks Sage, after talking with the FDA, will and should initiate additional studies to bolster the SAGE-217 dataset. Despite an "undeniably riskier" story, Matteis added Sage Therapeutics to the Stifel Select List "under the premise that we're one positive trial away from the bull case being back on track." The analyst has a Buy rating on the shares with a $173 price target. The stock closed Friday up 28c to $72.87.

SAGE Sage Therapeutics
$72.82

0.23 (0.32%)

12/06/19
BMOC
12/06/19
NO CHANGE
Target $92
BMOC
Outperform
Sage Therapeutics price target lowered to $92 from $199 at BMO Capital
BMO Capital analyst Gary Nachman lowered his price target on Sage Therapeutics to $92 after its "disappointing" phase 3 results for SAGE-217 in major depressive disorder. The analyst notes that the management remains confident in the data supporting the drug's activity when adjusting for certain "factors" however, stating that "potential viabiity" remains for SAGE-217 in depression. Nachman keeps his Outperform rating on the stock to reflect the opportunity, along with the company's "good" risk-reward in Zulresso, though his price target implies a "significantly" more conservative model.
12/06/19
MSCO
12/06/19
NO CHANGE
Target $125
MSCO
Overweight
Sage Therapeutics price target lowered to $125 from $217 at Morgan Stanley
Morgan Stanley analyst Matthew Harrison said the MOUNTAIN trial endpoint miss was "disappointing and unexpected," but he remains convinced that SAGE-217 is an active drug that can eventually "achieve multi-billion peak sales." However, Harrison increased his risk-adjustment on the probability of success for SAGE-217 and moved out his estimate for the launch of the drug to 2022 from 2021, with associated changes to expenses, which lowered his price target for Sage Therapeutics shares to $125 from $217. The analyst, who also lowered his peak risk-adjusted sales view to $2B from $3B in 2030, keeps an Overweight rating on Sage shares.
12/06/19
LTCO
12/06/19
DOWNGRADE
Target $60
LTCO
Neutral
Sage Therapeutics downgraded to Neutral from Buy at Ladenburg
Ladenburg analyst Michael Higgins downgraded Sage Therapeutics to Neutral from Buy with a $60 price target.
12/06/19
LTCO
12/06/19
DOWNGRADE
Target $60
LTCO
Neutral
Ladenburg downgrades Sage Therapeutics on lack of near-term catalysts
Ladenburg analyst Michael Higgins downgraded Sage Therapeutics to Neutral from Buy with a price target of $60, down from $120. After plummeting yesterday, the stock in early trading is up 2.5% to $61.70. The analyst sees a lack of near-term catalysts for the shares after the company's Mountain study failed in major depressive disorder. He doubts the FDA will encourage Sage to file for approval based on the data. In addition, it may take another round of Phase 3 trials to define the appropriate dosing of SAGE-217, Higgins tells investors in a research note. The analyst, who has "little doubt" that SAGE-217 can effectively treat depressed patients, believes specific patient, dosing regimen, depressive disorder and retreatment cycle will likely need to be defined in another round of studies than those currently underway.

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