Scotiabank lowered the firm’s price target on Sage Therapeutics to $19 from $34 and keeps an Outperform rating on the shares. The “complete lack” of improved cognitive performance in the company’s Phase 2 PRECEDENT trial evaluating dalzanemdor does “not bode well” for the development program, the analyst tells investors. The firm notes, however, there is a glimmer of hope, for the drug may perform better with patients with Huntington’s disease.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAGE:
- Sage Therapeutics down 19% at $12.60 after announcing dalzanemdor Phase 2 data
- SAGE Therapeutics’ Promising Parkinson’s Treatment Results
- Sage announces Phase 2 study of dalzanemdor did not meet primary endpoint
- Sage Therapeutics management to meet with Piper Sandler
- SAGE Therapeutics Board Member Announces Retirement
Questions or Comments about the article? Write to editor@tipranks.com