tiprankstipranks
Sage Releases Positive Data from PARADIGM Study of SAGE-718
Market News

Sage Releases Positive Data from PARADIGM Study of SAGE-718

Sage Therapeutics, Inc. (Nasdaq: SAGE) has disclosed positive results from the open-label Phase 2 PARADIGM Study of SAGE-718, an oral, positive allosteric modulator of the NMDA receptor. The company engages in the development and commercialization of novel medicines for brain health disorders.

The study showed improvements on multiple tests of executive functioning and learning and memory in patients with mild cognitive impairment (MCI) due to Parkinson’s disease (PD).

The PARADIGM Study involved several tests to assess multiple domains of cognitive performance in eleven patients who were administered with 3 mg of SAGE-718 once daily. The data also support further development of SAGE-718 in PD-MCI, suggesting improved performance on executive functioning and better learning and memory.

Jim Doherty, Ph.D., Chief Development Officer at Sage, said, “We are encouraged by these preliminary data as they support our belief in the potential of SAGE-718 for the treatment of MCI in patients with PD, and we look forward to learning more from our multiple, ongoing or planned placebo-controlled clinical trials in patients with PD and other brain health disorders.”

Price Target

Truist Securities analyst Joon Lee reiterated a Hold rating on Sage and lowered the price target to $40 from $60. The new price target implies 30.3% upside potential from current levels.

Consensus among analysts is a Moderate Buy based on 7 Buys and 8 Holds. The average Sage price target stands at $57.15 and implies upside potential of 86.1% to current levels.

Positive Sentiment

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on SAGE, as 9.4% of investors increased their exposure to the stock over the past 30 days.

Download the TipRanks mobile app now 

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. 

Read full Disclaimer & Disclosure

Related News:
Affirm Raises Guidance for Q3 and Fiscal Year 2022
Moderna Begins HIV Vaccine Testing; Shares Jump
Red Robin Gourmet Burgers Updates 1 Key Risk Factor

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles