Canaccord lowered the firm’s price target on Sage Therapeutics (SAGE) to $8 from $9 and keeps a Hold rating on the shares. The firm said they reported its 4Q24 results after the close and Zurzuvae (zuranolone for post-partum depression/PPD) collaboration revenue came in at $11.4M versus our $12.1M estimate and consensus of $13.7M. Canaccord said they will continue to keep a close watch on Zurzuvae’s performance given partner Biogen’s (BIIB) unsolicited takeover approach, which Sage has decided not to accept, and Sage’s ongoing strategic review.
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