Sage Therapeutics price target raised to $112 from $80 at BMO Capital - InvestingChannel

Sage Therapeutics price target raised to $112 from $80 at BMO Capital

BMO Capital analyst Gary Nachman raised his price target for Sage Therapeutics to $112 saying he received “very positive” feedback from two leading psychiatrists on the brexanolone Phase 3 data in both severe and moderate postpartum depression. The shares closed yesterday up 20c to $85.67. The physicians are “very impressed” by the rapid onset and good safety profile for brexanolone and expect to use the drug a lot, Nachman tells investors in a research note. The psychiatrists also expressed their belief in a high probability of success for the upcoming SAGE-217 data in postpartum depression and major depressive disorder, the analyst adds. He sees a good risk/reward into those catalysts at current share levels. Nachman reiterates an Outperform rating on Sage.

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