Mizuho lowered the firm’s price target on Sage Therapeutics to $16 from $18 and keeps a Neutral rating on the shares ahead of the Q2 report. The analyst believes Biogen and Sage will likely report above-consensus Q2 sales for Zurzuvae in post-partum depression. While encouraged by the launch progress, the firm remains cautious about forecasting higher than $300M in sales for 2030 before having better visibility on the potential magnitude of adoption. It cites pushed out launch year assumptions for dalzanemdor for the target drop.
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