Truist analyst Joon Lee lowered the firm’s price target on Sage Therapeutics to $13 from $18 and keeps a Hold rating on the shares. The company’s Q2 results shows that it is capable of developing drugs for high unmet need such as PPD, or postpartum depression, and the launch successfully in partnership with Biogen (BIIB), though the firm still sees further downside risk on pipeline updates from Alzheimer’s Disease and Huntington’s Disease for the balance of 2024, the analyst tells investors in a research note.
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