Sage Therapeutics price target lowered to $17 from $19 at Scotiabank

Scotiabank lowered the firm’s price target on Sage Therapeutics to $17 from $19 and keeps an Outperform rating on the shares. The firm suggests adding to positions following the recent correction on the news of the failure of the KINETIC-2 study that evaluated SAGE-324, the analyst tells investors. While recent checks indicate there is high enthusiasm for Zurzuvae, a medication of post-partum depression, the firm notes there remains a significant degree of payor pushback.