Scotiabank analyst George Farmer lowered the firm’s price target on Sage Therapeutics (SAGE) to $14 from $17 and keeps an Outperform rating on the shares. With only a few quarters of sales, the launch of zurzuvae appears to be on-track, the analyst tells investors. The firm assumes a dalzanemdor miss in the DIMENSION Huntington’s disease study expected to read out this year, which will likely lead to further cuts.
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