Baird analyst Joel Beatty maintains $Sage Therapeutics (SAGE.US)$ with a hold rating, and adjusts the target price from $13 to $9.
According to TipRanks data, the analyst has a success rate of 48.7% and a total average return of 10.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Sage Therapeutics (SAGE.US)$'s main analysts recently are as follows:
Sage Therapeutics experienced a setback when the Phase 2 LIGHTWAVE study of dalzanemdor for Alzheimer's disease failed to meet its primary endpoint. Consequently, the company has decided not to continue the drug's development for this indication. Despite this, Sage anticipates topline Phase 2 results from the DIMENSION trial studying dalzanemdor in Huntington's later in the year. Initial positive findings from the SURVEYOR trial offer some clinical validation; however, further substantial clinical evidence is necessary to mitigate the risks associated with the program.
Sage Therapeutics has reported that the Phase 2 LIGHTWAVE study for dalzanemdor in mild Alzheimer's Disease/Mild Cognitive Impairment did not meet the primary endpoint for statistical significance improvement based on the WAIS-IV score. Despite this outcome not affecting previous estimates, as it was not included, Sage has decided to halt further development of dalzanemdor for Alzheimer's Disease. Nonetheless, the company is looking forward to the results of the DIMENSION study concerning Huntington's disease expected in the fourth quarter of 2024. Given the historical challenges with dalzanemdor, a cautious perspective is being maintained regarding the potential effects of the upcoming data.
Sage Therapeutics' announcement of the unsuccessful phase 2 LIGHTWAVE trial of dalzanemdor in Alzheimer's disease has shifted the entirety of investor attention to the prospects of Zurzuvae.
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