Stock of the Day

December 7, 2020

Sage Therapeutics (SAGE)

$8.68
$0.00 (0.0%)
Market Cap: $543.54M

About Sage Therapeutics

Sage Therapeutics, Inc., a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression. Its product pipeline also comprises SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases; and SAGE-718, an oxysterol-based positive allosteric modulator of the NMDA receptor, which is in Phase II clinical trial for the treatment of depression, Huntington's disease, Parkinson's diseases, Alzheimer's disease, attention deficit hyperactivity disorder, schizophrenia, and neuropathic pain. The company has a strategic collaboration with Shionogi & Co., Ltd. for the development and commercialization of zuranolone in Japan, Taiwan, and South Korea; and a collaboration and license agreement with Biogen MA Inc. to jointly develop and commercialize SAGE-217 and SAGE-324 products. The company was formerly known as Sterogen Biopharma, Inc. and changed its name to Sage Therapeutics, Inc. in September 2011. Sage Therapeutics, Inc. was incorporated in 2010 and is headquartered in Cambridge, Massachusetts.

Today's Trend

Sage Therapeutics, Inc. (NASDAQ: SAGE) shares have risen today, driven by a takeover agreement and several analyst price‐target hikes, although some downgrades and a legal investigation continue to weigh on sentiment.

  • Supernus Pharmaceuticals to acquire Sage in a $795 million deal, securing rights to the depression treatment Zurzuvae.
  • HC Wainwright reaffirms a “neutral” rating and sets a $12.00 target, implying roughly 31% upside from prior levels.
  • Truist Financial raises its price target on SAGE from $8.00 to $9.00, maintaining a “hold” rating.
  • Canaccord Genuity Group ups its price target on SAGE to $8.50, reiterating a “hold” stance.
  • Shares jumped over 35% on above‐average volume, but earnings estimate revisions suggest limited further upside.
  • Broader biotech news: another gene‐therapy patient death, increased M&A activity and a contentious vaccine advisory board.
  • Piper Sandler downgrades Sage from “strong‐buy” to “hold” and cuts its target to $8.50 from $9.00.
  • Bronstein, Gewirtz & Grossman announces an investigation into potential claims on behalf of Sage shareholders.
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