BofA is moving to No Rating on Sage Therapeutics (SAGE) after the company announced it has received an unsolicited, nonbinding acquisition proposal from partner Biogen (BIIB) for $7.22 per share. Sage is no longer trading on its fundamentals following the news, argues the analyst, who looks for further details on the outcome of the proposal.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAGE:
- Morning Movers: Intra-Cellular surges following deal to be bought by J&J
- SAGE Therapeutics Outlines 2025 Strategy and Acquisition Proposal
- Sage Therapeutics confirms $7.22 per share acquisition proposal from Biogen
- Sage Therapeutics price target raised to $5 from $4 at RBC Capital
- Sage Therapeutics price target lowered to $9 from $26 at Piper Sandler