SAGE Therapeutics (SAGE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 11. Analyst Marc Goodman from Leerink Partners maintained a Hold rating on the stock and has a $8.00 price target.
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Marc Goodman has given his Hold rating due to a combination of factors affecting SAGE Therapeutics. The revenue for their product, Zurzuvae, has been impacted by inventory adjustments, resulting in a stagnation at around $11 million, similar to the previous quarter. Despite Sage and Biogen’s efforts to bolster sales through an expanded sales force and increased marketing, Goodman suggests that Zurzuvae is likely to remain a niche product rather than achieving wide-scale success.
Additionally, while the financial results from the fourth quarter of 2024 were not particularly strong, Goodman does not anticipate a significant drop in SAGE’s stock price because of the potential acquisition by Biogen and ongoing strategic explorations by the company. Furthermore, the company’s robust cash reserve of approximately $500 million should sustain operations until mid-2027, providing a stable financial backdrop for the near term. Consequently, Goodman has updated his earnings estimates and maintains a Market Perform rating with an $8 price target.
In another report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $6.00 price target.