Scotiabank analyst George Farmer maintains $Sage Therapeutics (SAGE.US)$ with a buy rating, and maintains the target price at $17.
According to TipRanks data, the analyst has a success rate of 51.8% and a total average return of 12.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Sage Therapeutics (SAGE.US)$'s main analysts recently are as follows:
The lowered valuation of Sage Therapeutics follows the outcome of the Phase 2 LIGHTWAVE study, where dalzanemdor failed to meet the primary endpoint in Alzheimer's disease treatment, leading the company to halt further development for this indication. Despite this setback, Sage Therapeutics anticipates releasing topline Phase 2 results from the DIMENSION trial of dalzanemdor in Huntington's later in the year. Initial encouraging data from the SURVEYOR trial offers some clinical validation, yet substantial clinical validation remains necessary to mitigate the program's risks.
Sage Therapeutics reported that the Phase 2 LIGHTWAVE study of dalzanemdor in mild AD/MCI did not achieve a statistically significant improvement from the baseline on the primary endpoint, which was a change in WAIS-IV score. The company has decided to halt further development of dalzanemdor for AD, though it still anticipates releasing DIMENSION data related to Huntington's disease in the fourth quarter of 2024. Analysts express a cautious stance on the upcoming Huntington's data due to the previous unsuccessful results with dalzanemdor.
Sage Therapeutics' recent announcement regarding the unsuccessful outcome of the phase 2 LIGHTWAVE trial of dalzanemdor in Alzheimer's disease is likely to shift the entire investor focus onto the prospects of Zurzuvae going forward.
Note:
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