Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
SAGE Therapeutics Inc (NASDAQ:SAGE) has had a laudable 109-percent run in recent months after meeting primary endpoints in multiple trials and securing regulatory approvals.
It found further reason to celebrate Monday with the conversion of a new Street advocate.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Rating
Morgan Stanley analyst Matthew Harrison initiated coverage on Sage with an Overweight rating and $225 price target.
The Thesis
Sage is developing a pipeline of GABA-receptor agents to treat central nervous system diseases with a mechanism that's potentially faster, more widely applicable and has fewer pronounced side effects than current standards of care.
Brexanolone, Sage’s treatment for postpartum depression to be submitted to the U.S. Food and Drug Administration in the first half of the year, is expected to post peak U.S. sales of $775 million, Harrison said in a Monday note.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
“Given the lack of standard treatment and the modest benefit available with generic antidepressants, we believe brexanolone can be a [nearly] $1 billion global drug,” the analyst said.
That compounds Sage’s long-term opportunity in SAGE-217, which is seen to have potential in depression, bipolar disorder and insomnia.
“We see continued derisking of '217 driving SAGE higher,” the analysts wrote, forecasting more than $2.5 billion in peak sales.
Price Action
At the time of publication, shares were set to open up 1.4 percent at $166.50.
Related Links:
The Companies That Led 2017's Biotech Rally
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.