| Thursday | ||||
Wolfe Research Biotech… Wolfe Research Biotech Analyst Tewari holds a conference call with Chief Scientific Officer Robichaud and VP of Pharmacology Quirk on July 9 at 11 am. | ||||
| Tuesday | ||||
Wolfe Research Biotech… Wolfe Research Biotech Analyst Tewari holds a conference call with Chief Scientific Officer Robichaud and VP of Pharmacology Quirk on July 9 at 11 am. | ||||
| Over a month ago | ||||
RBC Capital analyst Brian… RBC Capital analyst Brian Abrahams raised the firm's price target on Sage Therapeutics to $75 from $72 and keeps an Outperform rating on the shares. A deep dive analysis into the company's NMDA portfolio suggests that its is underappreciated with long-term upside potential, the analyst tells investors in a research note. Abrahams sees Sage's lead pipeline asset '718 as "interesting" as it has produced "intriguing" data based on the mechanism that could provide benefits across a number of different neuropsych indication. The analyst adds that the company's oral antidepressant drug '217 has a lower-risk path than previously anticipated. | ||||
Wedbush analyst Laura… Wedbush analyst Laura Chico downgraded Sage Therapeutics to Neutral from Outperform with a price target of $37, up from $36. Chico says that while shares have rallied 44% from the lows seen in early April, it is difficult to find near-term catalysts that can help shares continue working higher. Chico continues to see zuranolone as an active agent and thinks higher dosing at the 50mg level is likely to improve any potential exposure limitations, but with key studies initiating and disruptions across the sector impacting clinical trial enrollment, Chico sees risk to rapid advancement of the development program and awaita better visibility into the pace of clinical trial enrollment and/or how the 50mg zuranolone dose performs. | ||||
Wedbush analyst Laura… Wedbush analyst Laura Chico downgraded Sage Therapeutics to Neutral from Outperform. | ||||
Mizuho analyst Vamil… Mizuho analyst Vamil Divan raised the firm's price target on Sage Therapeutics to $44 from $36 and keeps a Neutral rating on the shares following the company's Q1 results. Lower expenses helped Sage deliver a smaller than expected Q1 loss per share, but the focus remains on the company's ability to salvage the zuranolone clinical program, Divan tells investors in a research note. | |
Cash, cash equivalents,… Cash, cash equivalents, restricted cash, and marketable securities as of March 31, 2020 were approximately $0.9 billion compared to $1.0 billion at December 31, 2019. |
| Over a quarter ago | ||||
BMO Capital analyst Gary… BMO Capital analyst Gary Nachman lowered the firm's price target on Sage Therapeutics to $65 from $86 but keeps an Outperform rating on the shares. The analyst says the company's corporate restructuring announcement to free up $170M in cost savings is not surprising given the uncertain COVID-19 environment, adding that he agrees with the decision to prioritize resources to higher-value opportunities in the pipeline. Nachman also cuts his FY20 and FY21 EPS views on Sage to ($8.25) from ($9.39) and to ($5.67) from ($7.25). | ||||
Wedbush analyst Laura… Wedbush analyst Laura Chico lowered the firm's price target on Sage Therapeutics to $36 from $56 and keeps an Outperform rating on the shares. The analyst notes that with SAGE-217 efforts requiring more time and capital, and Zulresso facing commercial headwinds, the company's announced restructuring is unsurprising and represents a necessary cost-savings move to advance development campaigns. | ||||
Oppenheimer analyst Jay… Oppenheimer analyst Jay Olson lowered the firm's price target on Sage Therapeutics to $50 from $60 and keeps an Outperform rating on the shares. The analyst notes that the company announced a massive restructuring that appears to abandon the launch of Zulresso. Olson suspects that primary focus will indefinitely remain on zuranolone and pipeline assets, and dramatically lowers his Zulresso sales forecast. | ||||