Sage Therapeutics price target lowered to $9 from $11 at Morgan Stanley

Morgan Stanley analyst Vikram Purohit lowered the firm’s price target on Sage Therapeutics (SAGE) to $9 from $11 and keeps an Equal Weight rating on the shares after its Q3 results last week. The company’s Zurzuvae total sales of $22M were about 20% ahead of consensus and Phase II data for dalzanemdor in Huntington’s Disease remains on track to report by the end of this year, though Zuranolone will no longer be pursued in MDD- major depressive disorder – and the management intends to provide updated cash runway guidance for Sage Therapeutics in the near-term, the analyst tells investors in a research note.