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Fly News Breaks for December 16, 2019
AXSM, SAGE
Dec 16, 2019 | 16:37 EDT
Piper Jaffray analyst Danielle Brill says nothing has really changed with Sage Therapeutics' (SAGE) SAGE-217 after Axsome Therapeutics (AXSM) announced positive Phase 3 data for AXS-05 in major depressive disorder. Though Axsome's data are "impressive," SAGE-217's rapid onset of action is differentiated, and ultimately there is "plenty of room" for both agents in the space, Brill tells investors in a research note. Further, the analyst adds that SAGE-217's profile is "uniquely suited" for post-partum depression, and that see expects no impact from Axsome in that setting/ Brill remains optimistic that Sage will be successful in future trials and she reiterates an Overweight rating on the shares with a $125 price target. The stock closed Monday down 4% to $70.00.
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