Stifel lowered the firm’s price target on Sage Therapeutics (SAGE) to $6 from $10 and keeps a Hold rating on the shares. 2024 was “a challenging year,” with shares down about 75% following the failure/discontinuation of SAGE-718, Stifel notes. Sage has “an arguably overqualified CEO” in Barry Greene who the firm thinks is committed to Sage and helping the company re-build itself, the analyst stated. It “seems plausible” that the next leg of investment could be via a combination of advancing internal programs and also business development, the latter being “a very logical step albeit one that is hard to predict or forecast,” the analyst added.
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