Market Overview

Canaccord: SAGE Therapeutics Now Worth $85/Share On 'Higher Probability Of Success' For Drug

11 Stocks That Rallied For Three Days On Increasing Volume, No News
15 Stocks Which Rallied Three Days On Increasing Volume

In a report published Thursday, Canaccord Genuity analysts maintained a Buy rating on SAGE Therapeutics Inc (NASDAQ: SAGE), while raising the price target from $58 to $85, to reflect a higher probability of success for SAGE-547.

The analysts believe SAGE-547 is poised to hit the primary endpoint in the upcoming Phase 3 STATUS trial, "which is successful weaning off of anesthesia and all AE drugs without recurrence of SE within 24 hours, due to continued positive data in its Phase 1/2 trials."

The Phase 3 trial is scheduled to enroll 126 patients to either SAGE-547 versus standard of care third-line anti-seizure agents. The trial would continue for six days and the top-line data can be expected in mid-2016. "Importantly, the study will include a crossover and retreatment with a higher dose if no initial response, which we believe may provide a more definitive demonstration of efficacy," the analysts said.

Phase 2 data for SAGE-547 in Essential Tremor (ET) and severe PostPartum Depression (PPD) by mid-215 could be a near-term catalyst, provided they exhibit early efficacy.

In the report Canaccord Genuity noted, "Although data are ~12 months away, we believe that finalization of the Phase 3 design and enrollment will increase investor diligence near term. We believe the Phase 3 trial design of a placebo-controlled study vs. an open-label historical control will provide unambiguous evidence of efficacy for SAGE-547 vs. placebo, especially due to the high level of confounding variables that may occur in this complicated patient population if an open-label study was run."

Latest Ratings for SAGE

Oct 2016Leerink SwannAssumesOutperform
Sep 2016Raymond JamesInitiates Coverage onOutperform
Jun 2016BMO CapitalInitiates Coverage onOutperform

View More Analyst Ratings for SAGE
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Reiteration Analyst Ratings


Related Articles (SAGE)

View Comments and Join the Discussion!